�Leveraging Le Tour� event opens Investment Week at MIPIM 2014
Maximising the economic benefits of hosting the Grand D�part of the Tour de France will be the focus of the opening event for Leeds City Region’s Investment Week at MIPIM 2014.
Led by Leeds and Partners and hosted in partnership with Sheffield City Region, the event will feature Sheffield-born cyclist and former Tour de France participant, Malcolm Elliott, and Cyrille Tricart, from race organisers Amaury Sport Organisation. The official reception will examine the partnership opportunities that the global event is delivering for the regions.
The Grand Depart is conservatively expected to deliver over £100m to Yorkshire through a combination of increased visitor numbers, visitor spend and the increase in economic activity. The last time the tour came to England, in 2007, over two million spectators lined the route. That number is expected to exceed three million for the 2014 tour.
However it is also the longer term gains that will be the focus of the panel debate as the tour provides the city region with an unrivalled opportunity to showcase its capability and capacity on an international stage. Tom Riordan from Leeds City Council, James Newman, Chair of Sheffield City Region LEP, and Kersten England from City of York Council will also take part in the discussion which takes place on Tuesday 11th March in Verriere Grand Auditorium, Palais des Festivals.
Investment Week at MIPIM 2014 is led by Leeds and Partners, and will see Bradford, Leeds, Wakefield, York and wider city region partners collaborate to highlight the unique investment opportunities that the Tour de France and HS2 offer and highlight over £2 billion-worth of development in the pipeline.
The activity aims to cement and build on the ambition, confidence and capability across the city region seen in recent years.
The £100 million is expected to be made up of around £35-£40 million from additional visitor spend, £40 million from the general additional spend in the local economy as a consequence of the Grand Depart, around £20 million direct to business through increased sales and £5 million from the teams themselves and the event infrastructure.
Already a partnership has been announced with Asda who will be helping to recruit, train, feed and clothe the 10,000 Tour Maker volunteers.
Yorkshire welcomes 216 million visits a year, and the visitor economy is worth approximately £7 billion. It employs nearly a quarter of a million people, representing 7% of the total job market in the Yorkshire & Humber region.
Roger Marsh, Chair of the Leeds City Region Enterprise Partnership (The LEP), said: “The economic impact of the Grand D�part, through increased visitors and the general spending uplift is significant. However, we see the tour as the beginning of a wider opportunity. It will allow us to showcase the opportunities in the region to an international audience and clearly demonstrate our capability in hosting high profile, big ticket events.
“We will be examining these wider opportunities during Investment Week at MIPIM 2014.”
James Newman, Chairman of the Sheffield City Region Local Enterprise Partnership, said: “We have invested a significant amount of time into ensuring that we make the most out of the opportunity that the Tour represents. Working in partnership with businesses, but also with our regional and local authority partners, will be critical in the success of this year’s event and the economic legacy that it leaves behind.”
Cyrille Tricart, Manager of External Relations at ASO, added: “To see the way that Yorkshire has embraced the Tour has been hugely pleasing for the organisers. The passion that the region shows for cycling is incredible and that has been reflected in the business community as much as the people themselves.
“It is important to work in partnership with businesses to make the Grand D�part a complete success for everyone involved and we looking forward to discussing the opportunities at Investment Week at MIPIM 2014.”
Investment Week at MIPIM 2014 is sponsored by Town Centre Securities, The GB Group, GVA, Munroe K and Shulmans with additional support from Arup, Hammerson, AQL, Aecom, Land Securities, Leeds Bradford International Airport, PwC and RSL Steeper.