Thursday, July 17, 2008

News: Sheffield city region sees resurgent economic growth


Research by The Work Foundation highlights that the performance of the joint economy of Sheffield and Rotherham makes it a "resurgent city." Productivity (GVA) in the city region increased by 71.5% between 1995 and 2005, above the national average of 66.4%. "Some big cities of the UK have clearly bounced back from the decline of manufacturing, and have galvanised themselves to be productive, thriving, 21st century places," says Alexandra Jones, associate director at The Work Foundation. The research states that "Sheffield’s economy has reached a turning point, recovering from industrial decline and potentially becoming a successful knowledge city." The Sheffield city region is described as an "Enterprise Spark", making the transition from public to private sector with productivity playing catch-up. Also highlighted are links between business and Sheffield's Universities, clusters of research and science parks, innovation, manufacturing, the commuting patterns of highly skilled workers in the region, the investment in transforming public space, the political landscape and city leadership.


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