Rotherham still roaring as Yorkshire’s fastest growing economy

The Duke and Duchess of Cambridge will officially open the McLaren factory.
The Duke and Duchess of Cambridge will officially open the McLaren factory.

Rotherham continued to outperform regional rivals to hold its position as the fastest growing economy in Yorkshire for the fourth quarter in a row, according to a new report.

The borough enjoyed 2.3 per cent growth from April to June, continuing a trend which started in summer 2017.

The figures were in the ‘UK Powerhouse’ report by Irwin Mitchell and the Centre for Economics and Business Research. 

It said economic growth was stimulated by a new university campus worth £10.5 million which opened in September.

It comes as Rotherham prepares to launch a £50m McLaren factory, set to pump £100m into the economy in its first 10 years.
But there may be trouble ahead. Researchers say the borough will struggle in the three months after the scheduled date for leaving the EU when GVA is expected to fall from 2.3 per cent to 1.2 per cent. 

Dorrien Peters partner and head of business legal services at Irwin Mitchell, said: “These figures reveal the departure from the EU will coincide with a slowdown in the level of economic growth in South Yorkshire.
“The UK will be responsible for securing its own trade deals and though there are opportunities, these will have to be balanced with the risks.”

Sheffield recorded 1.5 per cent GVA growth in the same April to June period.