THE construction of the £350m Trinity Leeds shopping centre contributed £740m to the economy, according to a report released today.
The report, carried out by Corporate Citizenship and commissioned by Trinity Leeds’ parent company Land Securities, assessed the socio-economic impact of the development of Trinity Leeds since it opened in March.
More than 132,000 people came to the one million square foot retail and leisure development on the day it opened and it has attracted more than five million visitors to its 120 shops, restaurants and cafés.
From the start of construction in August 2010 through to January 2013, more than 2.7 million hours were worked on site, which translates to the equivalent of 622 construction jobs.
More than half (55 per cent) of those working on the site came from Leeds and the Yorkshire area. The total amount paid to workers on the project was £37.5m, which means that £20.6m was paid to local people.
Andrew Dudley, head of retail project management at Land Securities, said: “Whilst we cannot be sure that all of this money is returned to the local economy, it is reasonable to say that the majority of it will remain within the region.”
Coun Richard Lewis, Leeds City Council executive board member with responsibility for development and the economy said:
“Trinity Leeds has had a hugely positive impact on the city since its opening earlier this year, both in terms of bringing more people into the city centre and job creation.
“Indeed, our own analysis shows that the job creation benefits are even greater than those set out in this report. We estimate that Trinity Leeds will create 2,300 new jobs for people in Leeds, and a total of 2,600 new jobs across Leeds City Region.”