Research carried out on behalf of Metro and South Yorkshire Passenger Transport Executive showed that the HS2 high-speed rail route through Yorkshire would generate an estimated £2.3 billion of local productivity benefits on top of the predicted £60 billion of standard national transport benefits.
Putting growth within easy reach
Journey times between Leeds and London of just 80 minutes would provide the city’s businesses with easy access to the economic drive of London and the South East. It would also put our City Region in easy reach of companies wanting to expand.
By linking the Leeds City Region, the Sheffield City Region and the “Three Cities” of Derby, Nottingham and Leicester, HS2 would also connect an area of 6.7 million people and 3 million jobs. Onward connections to the Tees Valley and Tyne and Wear City Regions would provide access to a further 2.2 million people and 0.9 million jobs.
This would help create a more balanced, better distributed national economy narrowing the north-south divide and creating a northern economy as an alternative for investment to London.
Although the scheme is still a long way off, with work not starting until the early 2020s it will still be a positive factor in influencing companies when making decisions about whether to invest and re-locate to our area.
The enormous economic benefits are why top business lobbying organisations such as the CBI and the British Chambers of Commerce are publicly supporting HS2. It is also why the local Chambers in the Leeds City Region are supporting the development of the high-speed link.
Read the research commissioned by Metro and the South Yorkshire Passenger Transport Executive
Local businesses backing High-Speed Rail
Artist's impression of Leeds proposed High Speed Rail Station at New Lane