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The phrase 'is a welcome development' is correct and usable in written English.
You can use it when describing a positive change or event that has taken place. For example, "The news that the unemployment rate had fallen was a welcome development."
Exact(60)
It is a welcome development.
This is a welcome development.
Comment: This is a welcome development.
"It is a welcome development," Mr. Ahmad said.
So conceived, experimental philosophy is a welcome development.
That is a welcome development, boosting the purchasing power of both businesses and households.
So the new Rubio-Cruz phase of the campaign is a welcome development.
But a weaker yen is a welcome development in some ways.
As cash and credit remain scarce, this is a welcome development.
It is a welcome development given increasingly tight budgets for robotic explorations of the solar system.
Mitt Romney's poor showing in the Super Tuesday contests is a welcome development.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com