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Rotherham in good shape to weather potential economic storms

posted 15 Sep 2010, 05:17 by RiDO Rotherham
Rotherham is in a good position to weather any potential economic storms, despite recent claims made in a BBC study undertaken by financial research company Experian.

One of the reports assumptions was that on over reliance on the manufacturing sector is a weakness, but in Rotherham’s case its advanced manufacturing sector is very much seen as one of its strengths.

Rotherham Borough Council’s Strategic Director for Environment & Development Services, Karl Battersby, said: “Forecasts have been wrong before and we strongly believe that Rotherham and the manufacturing sector in the wider sub-region is in a good position at the moment.

“South Yorkshire, and in particularly Rotherham are expected to be major beneficiaries in the demand for precision forged, machined and engineered components. Rotherham’s Advanced Manufacturing Park (AMP) will be the base for the £25m Nuclear Advanced Manufacturing Research Centre (NAMRC) with Rolls Royce and will also host the UK’s only Knowledge Transfer Academy for Nuclear Engineering. 

“In the past 18 months there have been nine new advanced manufacturing related inward investment projects located into the Rotherham area, creating 166 jobs and £6.79m of investment. Recent developments at the AMP mean that over 500 people will be employed on the Park once planned developments and investments have been completed.

“Added to this there have been 106 start-up businesses in Rotherham during the last 12 months and 51 businesses have moved into Rotherham’s incubation centres. During 2009-2010 RiDO tracked 573 investments into Rotherham, which lead to the creation of 3,084 jobs and safeguarded a further 2,914. So far this year, RiDO has already tracked 230 investment successes, leading to the creation of 800 new jobs and safeguarding 375.

“Investor confidence has never been so strong in regards to the town centre. 28 new businesses have opened since January 2010 with four further businesses fitting out. Added to this is a healthy list of national enquires at an advanced enquiry stage. The level of investment can be clearly linked to the positive rise in footfall and consumers spend. 

“We will continue to re-prioritise as budgets reduce, however the town centre and its Renaissance still very much remains a priority.”