![]() ![]() Leeds is the largest legal and financial centre in the UK, with the financial and insurance services industry worth £13 billion to regional economy. Leeds is considered the cultural, financial and commercial heart of the West Yorkshire Urban Area. Leeds is home to over 109,000 companies generating 5% of England's total economic output of £60.5 billion, and is also ranked as a gamma world city by the Globalization and World Cities Research Network. Leeds economy is the most diverse of all the UK's main employment centres, and has seen the fastest rate of private-sector jobs growth of any UK city and has the highest ratio of private to public sector jobs. City status was awarded in 1893, and a populous urban centre formed in the following century which absorbed surrounding villages and overtook the population of nearby York. It was also known for its flax industry, iron foundries, engineering and printing, as well as shopping, with several surviving Victorian era arcades, such as Kirkgate Market. Leeds developed as a mill town during the Industrial Revolution alongside other surrounding villages and towns in the West Riding of Yorkshire. It expanded by becoming a major production centre, including of carbonated water where it was invented in the 1760s, and trading centre (mainly with wool) for the 17th and 18th centuries. The city was a small manorial borough in the 13th century and a market town in the 16th century. It is built around the River Aire and is in the eastern foothills of the Pennines. It is governed by a metropolitan borough named after the city, which is the second most populous district in the United Kingdom. Leeds is a city in West Yorkshire, England.
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