Rolls-Royce hope to double productivity in Rotherham with £19 million "vote of confidence" investment
“Today's announcement shows that confidence in our country is growing and that world-leading British firms are investing for the future”
Rolls-Royce are set to invest £19 million into which the Chancellor of the Exchequer has called a “vote of confidence in Britain’s future.”
The huge funding boost is set to expand productivity at the existing turbine casting facility in Catcliffe’s Advanced Manufacturing Park (AMP).
It comes as part of a £300 million investment package from the British manufacturer into their facilities across the country.
Chancellor of the Exchequer John Healey has said that the investment shows that “confidence in our country is growing” as he took to the stage a the national Labour Party conference to set out his plans for a “new age of industrialisation.”
“This £300 million investment by Rolls-Royce is a powerful vote of confidence in Britain's future and in the economic stability this Government is delivering,” the Rawmarsh and Conisbrough MP added.
“From Derby and Bristol to Rotherham, Glasgow and Warwickshire, it will back skilled jobs, strengthen our sovereign industrial capability, and help drive growth in communities across the United Kingdom.
“At a time of increasing global competition, Britain must be the best place in the world to invest, innovate and build. Today's announcement shows that confidence in our country is growing and that world-leading British firms are investing for the future.”
Rolls-Royce’s investment in Rotherham will be backed by a further £2 million from South Yorkshire Mayoral Combined Authority (SYMCA).
It is expected to double the facility’s output of advanced turbine blades, which are a critical component in jet engines, by 2030.
The AMP is built near the site of the former Orgreave Colliery and was intended as a way of bringing modern industry back into the community after the closure of coal mines.
Alongside Rolls-Royce, McLaren and the UK Atomic Energy Authority have bases on site.
Elsewhere in South Yorkshire, the Government has also set out plans to nationalise Specialty Steel, who operate out of Stocksbridge and Rotherham, in an effort to keep the region’s industry afloat.
Tufan Erginbilgic, CEO of Rolls-Royce, said: “Our manufacturing facilities in the UK are home to the very best of British engineering talent.
“This £300 million investment is a clear statement of our intent. Rolls-Royce is committed to growing the UK’s advanced manufacturing sector and we are proud to be building infrastructure needed to power Britain's future.
“World-class facilities across the UK will ensure that Rolls-Royce remains a global leader in both commercial aviation and sovereign defence, while supporting thousands of highly skilled jobs both directly and through our supply chain.”
The investment comes after news of investment from neighbours McLaren, who recently announced a £40m injection which will create 300 jobs at their Rotherham factory.