Friday, January 28, 2011

News: South Yorkshire set for sector growth


Councils in South Yorkshire are working together on a programme of support for high growth businesses already based here and for the attraction of new inward investment.

The four-year, £3.4m Sector Growth Enhancement Programme, part-funded through the European Regional Development Fund, is designed to support private sector growth across South Yorkshire and could bring in 600 gross new jobs and generate an increase in GVA of over £9m.

The programme seeks to contribute towards tackling the jobs deficit by stimulating growth and competitiveness in targeted SMEs displaying high growth potential within the strong and emerging sectors in South Yorkshire.

The sectors that have been selected for specific focus include Nuclear, Healthcare Technology, Digital & New Media and Business & Financial Services. These sectors already have a strong critical mass in the region and will provide diverse employment opportunities at all skills levels.

The programme will be delivered via an extension of the successful Invest South Yorkshire model and key activities include proactive business development and developing contacts and networks, key account management and flexible support to high growth potential SMEs and the attraction and facilitation of new inward investment.

In Rotherham the programme would be delivered by experts at Rotherham Investment & Development Office that, in 2008 - 2009, supported 124 businesses and helped to create or safeguard over a 1,000 jobs.

They supported Tata Steel Europe (then Corus) with their restructure and are helping engineering company, MTL Group, to relocate to a 300,000 sq ft advanced manufacturing facility in Rotherham.

RiDO specialists also supported a number of Advanced Manufacturing & Materials (AMM) companies in their moves to the Advanced Manufacturing Park in Rotherham including Xeros, Struers, EoSemi and Exova.

David Fletcher, Director of Business Investment for Creative Sheffield, said: "This programme builds on the success, in recent years, of a strong partnership between the four South Yorkshire local authority investment teams.

"Whilst the emphasis until now has been around the growth of the larger companies in the region, this programme will allow us to develop our services to support smaller and medium sized businesses with high growth potential, a key element of the economy going forward."

Rotherham Investment and Development Office


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