ROTHERHAM has the fastest growing economy in Yorkshire and the eighth fastest in the country, a new report has found.
The borough’s economy grew 1.8 per cent in the third quarter of 2017, according to research by Irwin Mitchell and the Centre for Economics and Business Research.
Dorrien Peters, partner and head of business legal services at the Sheffield office of Irwin Mitchell The report said Rotherham had built on its historical manufacturing sector specialising in heavy steel, and now played a key role in making bespoke products for the aerospace, nuclear and transport industries, driven by research and development at the Advanced Manufacturing Research Centre.
Mr Peters said: “Our latest Powerhouse Report shows 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.”
Work is currently underway to build a factory for supercar manufacturer McLaren at the Advanced Manufacturing Park.
Harworth has also signed a 15-year lease with an unnamed advanced manufacturer for a new 11,044 sq ft unit at the same site in July.
Plans are also in place for a £50m “town centre” and bus station on the neighbouring Waverley estate.
Rotherham Borough Council leader Chris Read said: “This is a real credit to the partnership we've built, the investors who’ve come to Rotherham and those who've backed borough projects for a long time.”