Leeds sets out a landmark year of opportunity as the city prepares to move major projects into delivery

With billions in economic potential and multiple nationally significant programmes advancing in 2026, Leeds confirms it is ready to move from vision to delivery this year. 

At the end of 2025, Leeds City Council launched an ambitious Economic Vision outlining the opportunity to generate £20billion in economic growth and create 100,000 new jobs in the city. Today, a report detailing the updates around several nationally significant programmes and schemes  will be presented to Leeds City Council’s Executive Board  with a recommendation to endorse the approaches and support the work that needs to be undertaken to progress delivery.

Core to the delivery of a number of the projects is the idea of a Mayoral Development Zone (MDZ) which would see the council with West Yorkshire Combined Authority and Homes England  coming together to drive and oversee the delivery of the Leeds Transformational Regeneration areas, including the proposed New Town with an advisory board made up of regeneration and development experts. 

The key projects include: 

-  The Leeds City Fund  - announced by Government in the Autumn Budget, the scheme which will be administered locally, will allow Leeds to retain 100% business rates growth for 25 years, opening up a new fund for infrastructure that could unlock and accelerate developments in the city centre. The fund is on track for Government to sign off this Spring. 

- The Royal Armouries Tiltyard a pilot City Fund project, and a significant cultural and conferencing milestone which will see a significant upgrade to capacity and visitor experience. The project has the potential to generate over £700million GVA over the lifetime of the project, as well as supporting upwards of 400 jobs and attracting 300,000 additional visors annually. 

- Elland Road – a refreshed planning statement sets out one of the most significant development opportunities in the country with the potential to deliver a multi-billion-pound boost to the city’s economy and provide around 2,000 new homes for the city as well as creating a series of innovate leisure, education, public realm and commercial opportunities. This along with the planning approval for increased capacity at the Elland Road stadium and where we are working with experienced property developers, Lowy Family Group, on the opportunity beyond the stadium who have delivered major regeneration schemes across the world is really showcasing what sports-led regeneration can do for a city. 

- Proposed New Town in South Bank Leeds - working with Government on the opportunity with the national New Town Programme is a national priority and flagship programme, of which South Bank Leeds is shortlisted for. The programme aims to deliver at least 300,000 homes across 12 shortlisted locations. 

- Temple Works – working with Homes England, Leeds is preparing to unlock a once in a generation regeneration opportunity around the Grade listed Temple Works. The project along will unlock the delivery of over 3,000 homes, over 100,000 sq ft. of commercial space as well as the potential of a new British Library North. 

Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

“In Leeds we have a major series of growth opportunities that together to form one of the most ambitious transformation pipelines anywhere in the UK.

“This year we are ready and prepped to shift into delivery – we have our vision in place, backed by strong partnerships and the ambition to grow our city for the benefit of everyone. 

“We are creating opportunities that are backed nationally by government, and look to secure long-term, locally led investment at scale – with the Mayoral Development Zone forming a key part of our plans.”  

Tracy Brabin, Mayor of West Yorkshire, said:

“West Yorkshire has never been afraid to think big, and a Mayoral Development Zone will give us the power to turn our shared vision for Leeds into real change on the ground.

“With the backing of devolution, we can fast-track the homes, jobs and infrastructure our communities and businesses are crying out for, and put Leeds at the heart of the national growth mission.

“By establishing a Mayoral Development Zone, we will seize this once in a generation opportunity to deliver a landmark new town at Leeds South Bank and build a brighter West Yorkshire that works for all."

For more information, view the report here – Leeds Economic Delivery Update 

Notes to editors:  Leeds City Council would usually retain 50% of the business rates generated, but as part of the City Fund, for a designated part of the South Bank, the council will retain 100% of the uplift in business rates generated through growth of the city.  This funding can then be used by the council to borrow to support investment which will facilitate further growth and development.  This will not have any financial impact on the non-domestic rates paid by individual businesses.