Leeds is poised for a landmark year in 2026, with a series of major regeneration and investment projects moving closer to delivery and billions of pounds of economic potential within reach.
At the heart of the city’s ambitions is Leeds City Council’s Economic Vision, launched at the end of 2025, which set out plans to generate £20 billion in economic growth and create 100,000 new jobs. Now, with several nationally significant programmes advancing, the council says Leeds is ready to move from vision to action.
A report due to be presented to the council’s Executive Board will outline progress on a range of flagship schemes and seek backing for the next steps needed to bring them forward. Among the most significant is the Leeds City Fund, announced by the Government in the Autumn Budget.
The scheme, which will be administered locally, would allow Leeds to retain 100 per cent of business rates growth within a designated part of the South Bank for 25 years. The fund is expected to unlock major infrastructure investment and help accelerate development in the city centre, with Government approval anticipated this spring.
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.”
A pilot project under the fund is the Royal Armouries Tiltyard, a major cultural and conferencing scheme designed to boost capacity and improve the visitor experience. The development could generate more than £700 million in gross value added over its lifetime, support more than 400 jobs and attract an additional 300,000 visitors each year.
Further momentum is also building around Elland Road, where a refreshed planning statement has identified one of the country’s most significant regeneration opportunities. Alongside proposals to expand the stadium’s capacity, the wider scheme has the potential to deliver around 2,000 new homes, new leisure and education facilities, improved public spaces and commercial development, bringing a multi-billion-pound boost to the Leeds economy. The council is working with experienced developers Lowy Family Group on the plans beyond the stadium, highlighting the city’s belief in the power of sports-led regeneration.
Leeds is also one of 12 shortlisted locations in the Government’s flagship New Town Programme, with South Bank Leeds being considered as part of plans to deliver at least 300,000 homes nationally. City leaders see the proposed new town as a key opportunity to drive long-term growth and transform one of Europe’s largest regeneration areas.
Another major focus is Temple Works, where Leeds is working with Homes England to unlock a once-in-a-generation redevelopment opportunity around the Grade I-listed building. The scheme could pave the way for more than 3,000 homes, over 100,000 sq ft of commercial space and the potential development of a new British Library North.
A central part of delivering many of these projects is the proposed Mayoral Development Zone, which would bring Leeds City Council, the West Yorkshire Combined Authority and Homes England together to oversee regeneration across the city’s Transformational Regeneration areas, including the proposed New Town. An advisory board made up of regeneration and development experts would help guide the work.
Taken together, the projects mark a defining moment for Leeds, as the city looks to translate long-term ambition into real delivery and position itself for sustained growth in the years ahead.
For more information, view the report here – Leeds Economic Delivery Update
