Economy
Rotherham is amongst the leaders in advanced manufacturing in the UK. The main Corus Engineering Steels (CES) plant produces steel for products worldwide, including Renault Formula One cars and the Airbus A380 "super jumbo" aeroplane. The smaller (CNS) site based close to the old Templeborough Melting Shop & Rolling Mills site produces hot rolled narrow strip to high tolerances for the aeronautical and agricultural industries. The future of the steel industry in Rotherham is in doubt in light of the financial crisis of 2007-2009. Rotherham's economic reliance on supplying the automobile industry with raw steel led to the announcement of a significant scale-back of operations in January 2009. This, combined with the closure of Rotherham's Burberry clothing factory led to the most significant economic crisis in the borough since the 1980s.
Over the next 20 years, Rotherham is expected to receive £2 billion in investment from private industry. The town's economy, when combined with that of Sheffield, is growing faster than Leeds and Manchester. In July 2010, statistics from Yorkshire Forward showed that Rotherham had attracted new investment and industry from abroad. The Advanced Manufacturing Park has attracted major companies including Rolls Royce and Castings Technology International (Cti). Technology developed on the AMP is utilised in leading edge projects within Formula One and the next generation of military and commercial aircraft, including the new Boeing 787 Dreamliner. Financial solutions company Norton Finance are based in the town; employing 250 people at their head office.
Because of Rotherham's proximity to the Meadowhall Centre in the Lower Don Valley, and Sheffield city centre, it does not have a wide range of big name stores for a town its size. The town centre includes major high street stores, several independent stores, markets, cafes, restaurants and bars. Shops include a large Tesco, JD Sports, New Look, Argos, Barratts, Boots UK, Foot Locker and Clarks. There are indoor and outdoor markets and a street market during the week. There are restaurants, cafes and bars around the town centre. Outside the centre is Parkgate Shopping Park, which is linked to the town centre by a free shuttle bus.
Read more about this topic: Rotherham
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)