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Funding boost for Leeds Arena bid

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Published Date: 09 June 2009
By Debbie Leigh
Leeds Arena is a step closer to reality after Yorkshire Forward agreed to part-fund the multi-million pound project.
Leeds City Council had been confident the regional development agency would provide the extra cash needed for the scheme but some MPs in Sheffield have argued it should not pump public funds into a project they fear could damage trade at their city's existing arena.

Now after a consultancy firm assessed proposals for the 12,500-seater facility in Leeds city centre, Yorkshire Forward has pledged to help create the venue at Clay Pit Lane – as long as the Government gives the cash injection the green light.

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The arena, run by major international operator SMG, is expected to create 300 jobs and generate nearly £30m a year for the local economy.

Yorkshire Forward (YF) Chief Executive Tom Riordan said: "Following extensive, independent evaluation I'm pleased to confirm that Yorkshire Forward's Board has confirmed its decision to invest in the development of a Leeds Arena.

"The proposal will now be submitted to Central Government for funding approval."

He said the Board had taken account of Sheffield's concerns and would include those representations in the case put to Government to approve the investment.

Leeds councillor Andrew Carter said he was "delighted" by the news.
He added: "It's what we hoped for. We are moving ahead with the project as rapidly as we can."

Demolition of the former Leeds Metropolitan University tower block which occupied part of the arena's five-acre Clay Pit Lane site started at the beginning of April.

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  • Last Updated: 09 June 2009 8:11 AM
  • Source: n/a
  • Location: Leeds
 
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1

White Heather,

Leeds 09/06/2009 14:05:38
Sheffield really does make me laugh. They try to block Yorkshire Forward's funding towards the Leeds Arena, yet Sheffield has had far more Government funding than most towards the regeneration of their City. They got a pay out for Supertram - Leeds had its similar scheme blocked by the Government. Sheffield wouldn't have half of what it has were in not for Government help, yet when Leeds tries to get some help to build a much needed Arena, all we get is bleating from down the M1.

A good decision by Yorkshire Forward that enables (eventually) fair competition between the arenas. I didn't see Manchester complaining about competition from Leeds and they also have something to lose. What are Sheffield afraid of? That Leeds's arena, being in the city centre, might attract more visitors than theirs, stuck out in the middle of an industrial area?
2

Carol Judson,

Leeds 09/06/2009 14:32:10
This is really good news which is a huge boost for Leeds and the surrounding area. Leeds is the only major city not to have an arena which will cater for all ages and bring much needed revenue to the city and job creation.



3

Aunty Warr,

Leeds 09/06/2009 17:42:39
How many council houses would this provide for homeless people of Leeds.This is typical of the curent Council.
A W Leeds
4

J Bond,

Leeds 09/06/2009 18:42:50
South Yorkshire funding from Yorkshire Forward : £80 million

West Yorkshire Funding : £50 million

5

Master Rich,

Wakefield 09/06/2009 20:54:00
All very good points the above - but how much of the funding that has gone to South Yorkshire has been given knowing full well that it will have a detrimental affect on somewhere else in Yorskhire? Thats what they doing here, the official report even acknowledges it.

I can see where they are coming from given that everywhere else seems to have been given public funding for similar venues.

Still however good news for Leeds
6

Liam1234,

Leeds 10/06/2009 08:06:00
All I can say is it is about time that Leeds got an Arena.

I have been to Sheffield Arena & Manchester Arena, and I think they are both good.

I don't really think there will be that much of an effect on the competition between the arenas, because the amount of people from Leeds who would not travel to Sheffield / Manchester, would be able to go to the Leeds Arena. After all the capacity would only be 12,500.

I also believe the funding matters should not really be an issue, the arena should pay for itself in a matter of years with the income generated, jobs generated etc.
7

R.S.,

Leeds 10/06/2009 17:15:19
At last, the decision we've all been waiting for. Well done Yorkshire Forward, a good and right decision.

As for grumbling complaints about the money not being spent on council houses; investing in the arena will produce far more money for the local economy in the long run than if the cash was all just splashed out on a one off council house building spree.

As for Sheffield's local politicians, they can read the above comments by other YEP readers and then tell me this isn't a fair grant decision by Yorkshire Forward.
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