Channel 4 has confirmed it will be moving its headquarters to Leeds, starting in Summer 2019. The company initially narrowed down its relocation options to Leeds, Birmingham or Manchester, though its Chief Executive, Alex Mahon, claims Leeds was the clear winner.
The media powerhouse is the second major company to announce its move to the Northern capital. The HMRC is also moving 6,000 staff to its new Leeds headquarters. So, how will Channel 4’s move to the capital, benefit Leeds and Yorkshire?
Putting Leeds on the Media Map
After being told it has to leave London, Channel 4 decided one of its major new creative hubs was going to be based in Leeds. According to influential politicians, this move is going to provide incalculable benefits into the region. One of these benefits is the fact it will push Leeds onto the media map.
More creative students are sure to flock to the city’s university as they take advantage of the enhanced media and creative opportunities. There will also be ample opportunity for the people of Yorkshire to provide inspiration for the broadcaster’s content. It’s an exciting opportunity that is also helping to boost people’s spirits in the area.
Residents, Businesses and universities will benefit
What’s great about the move, is that it’s going to benefit everyone – residents, businesses and universities. It is thought it will bring a total of £1.2 billion into the region over the next 10 years. This mirrors the claims of top company RSM, that both start-ups and established organisations need each other in order to be truly successful.
Channel 4’s move to the region helps to raise its profile, encouraging more people to move to the city and giving it a younger, fresher vibe. It is also likely to increase tourism, especially if it does generate ideas from local residents and its new Northern staff. This will in turn provide a boost for the city’s businesses.
The move is also rumoured to be bringing 1,285 jobs into the area, which is a fairly modest increase.
Improving the economy outside of London
As it stands, Yorkshire and the north east of England have been largely under-represented in the media world. The West of the country has largely benefitted, taking a large chunk out of the north east economy. So, Channel 4’s new move is set to give the region a much-needed economic boost.
It’s one of the main reasons the government forced the media company to move out of London. It wanted to improve the economy outside of the UK’s capital. The move to Leeds is certainly going to do that.
Although Channel 4 has been strongly against moving out of London, there is no denying it’s choice to base one of its creative hubs in Leeds is going to deliver significant economic benefits. The above are just some of the benefits it’s likely to bring to the region, and the local authorities are both excited and thrilled by the opportunities it will create.