South Yorkshire Investment Zone to be a Catalyst for Job Creation and Economic Prosperity for Rotherham, Barnsley and South Yorkshire

South Yorkshire Investment Zone to be a Catalyst for Job Creation and Economic Prosperity for Rotherham, Barnsley and South Yorkshire

Barnsley & Rotherham Chamber of Commerce is delighted with today’s announcement that South Yorkshire has been designated as the UK’s first Investment Zone. This exciting development is projected to generate approximately 8,000 new job opportunities and attract £1.2 billion in private investments by 2030.

Thanks to an £80 million investment from the government, our region will be able to capitalize on its existing strengths and enhance the UK economy, making South Yorkshire the preferred destination for starting, expanding, or relocating businesses. The Investment Zone aims to leverage South Yorkshire’s advanced manufacturing capabilities and create a thriving environment for enterprises from across the globe.

The first major investment within the zone will be a groundbreaking sustainable aviation research project led by Boeing, with a total investment exceeding £80 million. This initiative focuses on developing lightweight structures for aeroplanes, a critical aspect of advancing aviation sustainability.

The new facility, named Compass (Composites at Speed and Scale), will be constructed as an extension of the University of Sheffield Advanced Manufacturing Research Centre’s Factory 2050. With collaborative support from the South Yorkshire Mayoral Combined Authority, Sheffield City Council, and the High-Value Manufacturing Catapult, this cutting-edge project will revolutionise the aerospace industry.

The Investment Zone will be the first of twelve new zones established around universities and high-growth industries. Building upon the success of South Yorkshire’s existing Advanced Manufacturing Innovation District (AMID), the zone will encompass Rotherham town centre and Sheffield city centre, while also incorporating Opportunity Sites across Barnsley and Doncaster.

Investors, developers, and start-ups will benefit from targeted support and financial interventions, including funding for capital, infrastructure, and feasibility work to facilitate smooth relocation. Moreover, dedicated Investment Zone planning officers will help overcome planning barriers throughout the process. Skills support programs will be implemented to upskill workforces and create enhanced opportunities for graduates, addressing issues related to economic inactivity.

Additionally, the Investment Zone will offer supply chain funding to bolster the capabilities and competitiveness of suppliers, enabling them to access regional, national, and international growth markets.

Matthew Stephens, President of Barnsley & Rotherham Chamber said: “Today’s announcement regarding the UK’s first Investment Zone in South Yorkshire is truly fantastic news for Rotherham and the wider South Yorkshire region. Whilst Barnsley may be outside of the actual zone, we will see Barnsley benefitting as an Opportunity Site, allowing the prospect for growth across several key investment areas. As a Chamber, we are keen to await further detail of this over the next coming months.

“This achievement is a testament to the outstanding collaboration between the Mayoral Combined Authority, local authorities, and businesses which many are represented by Barnsley & Rotherham Chamber of Commerce.

“The investment is a game changer for our members and the wider South Yorkshire business community, presenting substantial opportunities for growth in various sectors. While the initial focus will be on manufacturing capabilities in the aviation industry, I believe it extends far beyond that with Investors, developers and start-ups offered a combination of targeted support and financial interventions to start, scale up and relocate their businesses here in South Yorkshire.

“This development marks a significant milestone in our journey towards putting our region back on the map in attracting inward investment and innovation to South Yorkshire.”

Barnsley & Rotherham Chamber of Commerce is excited about the prospects that the South Yorkshire Investment Zone brings to our region. We look forward to working with businesses, investors, and stakeholders to create a vibrant and prosperous economic landscape in South Yorkshire, fostering growth, innovation, and job creation.