FEATURE: TRANSPORT & TRAVEL
How does transport affect the economy across the region?
1. By impacting on GDP. Transport can increase choice for businesses, for example in increasing the labour pool available, or by allowing a greater choice of supplier. Transport can increase productivity; for example, by reducing journey times. Also, areas with poor transport are unlikely to attract foreign direct investment
2. By supporting structural change in the economy. An efficient transport system can help the economy to respond more effectively to structural changes: for example, by helping people access new opportunities
3. By supporting a higher quality of life, partly through access to new products and opportunities
4. By supporting a low-carbon economy: the CO2 impact of transport is relatively small
Leeds
Leeds is the ‘capital city’ of Yorkshire & Humber; it’s also the financial capital of the North, and one of the fastest-growing cities in the country. Some of the country's leading household names in banking and insurance services are based in the city: First Direct, GE Capital, Alliance & Leicester, Halifax Direct and Direct Line.
Leeds Metropolitan District spans 15 miles east to west and 13 miles north to south, covering 217 square miles at the geographical heart of the UK, of which 65% is greenbelt land. Leeds is surrounded by an extensive suburban and rural area containing free- standing towns such as Wetherby, Rothwell, Morley and Otley, plus numerous attractive villages. The city enjoys excellent transport links and an advanced communications infrastructure, making it the perfect place to do business. Leeds has seen £3.5bn of investment in major commercial, retail and residential property developments over the last decade. A further £7.3bn of projects are in progress or in the pipeline. Leeds is a major employment centre for adjacent districts. Out of a total workforce in West Yorkshire of 936,000, nearly half (that’s 442,000 people) work in Leeds.
In 2009, the Leeds city region was recognised by the Government as one of two pilot city regions within the UK, allowing new freedoms and flexibilities in areas such as housing, regeneration, transport, innovation and higher level skills. The aim is to create the conditions for a better business environment in which enterprise can flourish and the economy can grow, through innovation-led activity.
48 WEST & NORTH YORKSHIRE CHAMBERS OF COMMERCE 2011
Key assets of the Leeds city region include economic diversity, the knowledge economy and connectivity. It lies at the crossroads of the UK transportation network, and is home to over 100,000 businesses.
Bradford
There is growing recognition of the key role of Bradford District in the region and city region. It is worth noting that:
• Bradford is forecast to be the fastest growing economy in the Yorkshire and Humber region over the next ten years
• Bradford has the fastest growing workforce of any metropolitan authority outside London
• In six of the nine English regions, Bradford would be the regional economic capital
Given that the key components of the economy are people, business and place, an efficient and effective transport system is a key element in ensuring that the economy can function as productively as possible. The transport implication is that Bradford District’s workforce will become of increasingly strategic importance in the city region economy. An efficient and effective transport system is required that will enable the District’s workforce to access employment across the city region and thereby increase its level of economic activity. The complementary relationship between Bradford and Leeds economies is a powerful element of the city region and existing travel flows
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