Rotherham Council leaders have welcomed a new report which reveals Rotherham is the fastest growing city economy in Yorkshire, and the seventh fastest growing economy in the UK.
The report shows that Rotherham had a growth of 1.8% across October to December 2017. The only economies ahead of Rotherham were Cambridge (2.2%), Aberdeen (2%), Derby, Milton Keynes, Ipswich, and Oxford (all 1.9%).
The report goes on to state that Rotherham has built on its historical manufacturing sector specialising in heavy steel, and now plays a key role in the manufacture of bespoke products for the aerospace, nuclear and transportation industries, driven by research and development in technologies.
The location and success of the Advanced Manufacturing and Innovation District — which sits on the Rotherham/Sheffield border — and the University of Sheffield’s Advanced Manufacturing and Research Centre was significant in attracting investment from the likes of Boeing and McLaren, making a significant difference to the assessment of Rotherham’s performance against its peers.
Dorrien Peters, Partner and Head of Business Legal Services at the Sheffield office of Irwin Mitchell, said: “Our latest Powerhouse Report shows that Rotherham’s impressive growth is a huge testament to the vision of our universities, together with Rotherham and Sheffield, to build a world class Advanced Manufacturing Innovation District. It is a decision that is supported by the hard economic data that shows the worth of manufacturing and education to the wider Sheffield City Region.”
Rotherham Council’s Cabinet Member for Jobs and the Local Economy Councillor Denise Lelliott added: “Rotherham’s ambition is to create the right conditions for growth and regeneration and these results give confidence to businesses looking to invest in jobs, homes and developments within Rotherham. We look forward to creating an economy in which there are more growing and innovative businesses, where more local people are in work, both highly skilled and entrepreneurial, and where the transport, digital and environmental infrastructure, along with the housing offer and quality of place, support economic growth.”
The full report can be found at www.irwinmitchell.com/ukpowerhouse.