Great news for Rotherham- thanks to a thriving business community, the town has had the fastest growing economy in the Yorkshire region in the second quarter of 2018, with growth ahead of the UK average.
According to the UK Powerhouse study by Irwin Mitchell and the Centre for Economics and Business Research, Rotherham’s £4.3 billion per year economy placed 17th out of 46 of the UK’s largest cities based on GVA growth and job creation.
In the ranking, Rotherham placed first out of any other city in Yorkshire, and placed third out of Northern economies behind Stockport and Manchester.
GVA represents the increase in the value of the economy based on the increase in production of goods and services. For Rotherham, GVA was up 2.3% in Q2 of this year compared to the same quarter in 2017, with the number of jobs also increasing by 1.4% in the same period.
Rob Shaw, Managing Director at Glu Recruit said:
“It’s great to see Rotherham’s economy thriving. The town has achieved investments from top companies like Rolls Royce and McLaren in recent years, and clearly these investments are providing a big boost to both the local economy, and the region as a whole.
“It’s also great to see an up-and-comer like Rotherham place next to some of the region’s most well-established economies- it shows the huge potential Rotherham has to become a stand-out player in the regional economy.
“For recruitment too we’ve seen an uptick, with more businesses looking to expand and recruit staff than in previous years.”