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Rotherham leading the way as Yorkshire’s fastest growing economy

posted 15 Jan 2018, 02:33 by RiDO Rotherham   [ updated 26 Mar 2018, 07:54 ]
A new report has been welcomed across the borough which reveals Rotherham is the fastest growing-city economy in Yorkshire, and the eighth fastest growing economy in the UK.

The UK Powerhouse study by Irwin Mitchell and the Centre for Economics and Business Research (Cebr) provides an estimate of growth and job creation within 45 of the UK’s largest cities.

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 manufacturer 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.”