Bradford has a big economy worth over £9.5 bn

BRADFORD ECONOMY

Information about the local economy

Ten facts about the Bradford Economy

  1. Bradford is the 5th largest city authority in the UK, with a youthful, diverse, fast growing population of 526,400 and an economy worth £9.5bn
  2. Bradford is bursting with Entrepreneurial Energy. The district boasts many young, creative and energetic entrepreneurs, has a fast growing and dynamic workforce, a unique, diverse culture with global business and kinship links and a high proportion of self-employment and new business start ups. It is the youngest city in the UK- 23.5% of the population is under 16 years old.
  3. A number of major companies have their headquarters in the district including Morrisons, Yorkshire Building Society, Provident Financial, Hallmark Cards, Arris (Pace), Freemans Grattan Holdings and Yorkshire Water. Over 40 large companies are headquartered in the District employing 370,000 people across the UK with a combined turnover of £30billion.
  4. The £260 million Broadway shopping centre opened in November 2015, creating 570,000 sq ft of additional retail accommodation within the centre. It is proving to be a catalyst for further retail and leisure development. It is poised to attract an extra 9m shoppers per annum, create 3,000 jobs and provide a £500m boost to the economy. The predicted increase in footfall would make Bradford city centre the third most visited retail destination in Yorkshire (after Meadowhall and Leeds city centre). More than 100 shops bars and restaurants have opened in Bradford city centre in the last 3 years. Further schemes are on site and will create more bars, a boutique cinema gym and more than 100 apartments within the next two years, adding new brands, breadth and depth to the city centre’s offer.
  5. Bradford is a centre for Innovation and Technology. Local companies like Arris (formerly Pace) and Radio Design are head quartered in the district. They at the forefront of the UK’s digital sector. In fact, the term "World Wide Web" was first used in a journal published by the Bradford based publisher Emerald. The Digital Catapult Centre Yorkshire, established within new Digital Exchange Facility within the Digital Health Enterprise Zone (in the city centre) is rapidly advancing the UK’s best digital ideas and supporting small businesses.
  6. Bradford is the Producer City. 25,000 work in manufacturing in Bradford (5th highest in the UK in 2014). The area has the largest concentration of advanced manufacturing and materials jobs in the UK.
  7. Bradford has a “Can do” council. It uses its assets to strengthen the local economy. For example, the council and partners secured and matched funding to create £35m City Centre Growth Zone that has supported more than 200 businesses, creating 1,000 new jobs. The council has also invested more than £30m in transforming the public realm in the city centre, including the multi award- winning City Park. Bradford Council is looking to facilitate grade “A” office accommodation development across the city centre and has helped created Baildon Business Park on a council owned site in Airedale which has been very popular with end users.
  8. Bradford contains Saltaire UNESCO World Heritage site, the Bronte Parsonage Museum and the National Media Museum. Bradford is also the world’s first UNESCO City of Film. This permanent title bestows international recognition on Bradford as a world centre for film because of the city’s rich film heritage, its inspirational movie locations and its many celebrations of the moving image through the city’s film festivals, filmed related events and unique approach to learning about film.
  9. Bradford University has been named as the number one university for graduate-level employment in Yorkshire and is in the top 20 nationally, as listed by the Sunday Times University Guide 2013.
  10. Bradford is 60% rural. Located close to the Yorkshire Dales it has a strong cultural offer and is a top UK residential hotspot.

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