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18th March 2008

Leeds City Means Business

Leeds is playing host to the first ever, The Business Of… conference at the Elland Road stadium. The conference is to create debate into the initiative thinking in business and to show local businesses how to gain new skills and technology in a rapidly changing climate.

Respected speakers, on regional and national economic growth, have given a series of presentations. Presentations included making Leeds a major shopping destination and discussing educational issues in Leeds.

The Business of Finance presentation scrutinised the current economic climate. And looked at ways to keep your business abreast of the impending situation.

The manufacturing sector in Yorkshire is remaining buoyant as exports to China and India are counterbalancing the recession in the United States. Furthermore with Leeds being the third largest manufacturing region in the UK things are looking bright.

Despite the demise of confidence in the economic growth, Yorkshire is expected to have 1.7 per cent growth in 2008.

However a fall in growth is expected to effects regions such as Yorkshire and the Humber. The result being that these regions will fall below the UK trend, but this will not be due to the lack of funding from the banks.

Businesses were likely to see a couple of extra interest rate cuts over the next six to twelve months, despite upside risks to inflation and possibly one more cut in 2009.

Robert Hancox the assistant director of the national developer Hammerson and the Leeds City partnership expressed the organisations aspirations for Leeds.

With plans for the development of the Eastgate Quarter, which will create 2,000 construction jobs and 6000 jobs for the retail sector.

Work is due to commence on the project early next year, with completion due in 2012.

Mr Hancox said: “The aim was to take retail in Leeds up a league and to create an economically, socially and environmentally sustainable project.

“Which would help to regenerate a neglected part of Leeds into an elite major regional centre.”

The new site is 22-acres and will house more that 1.4m sq ft of retail, restaurant and leisure space. Seven acres are dedicated to a new public space including major new stores for John Lewis and Marks and Spencer.

SOURCE:

Yorkshire Evening Post