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Economy of Sheffield


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accompanying St Paul's Place, Velocity Living, and the Moor redevelopment, the forthcoming NRQ and the recently completed Winter Gardens, Peace Gardens, Millennium Galleries, and many projects under the Sheffield One redevelopment agency. The Sheffield economy grew from £5.6 billion in 1997 (1997 GVA) to £9.2 billion in 2007 (2007 GVA).

The "UK Cities Monitor 2008" placed Sheffield among the top ten "best cities to locate a business today", the city occupying third and fourth places respectively for best office location and best new call centre location. The same report places Sheffield in third place regarding "greenest reputation" and second in terms of the availability of financial incentives.

Sheffield has an international reputation for metallurgy and steel-making. Many innovations in these fields have been made in Sheffield, for example Benjamin Huntsman discovered the crucible technique in the 1740s at his workshop in Handsworth. This process was rendered obsolete in 1856 by Henry Bessemer's invention of the Bessemer converter. Thomas Boulsover invented Sheffield Plate (silver-plated copper) in the early 18th century. Stainless steel was invented by Harry Brearley in 1912, and the work of F. B. Pickering and T. Gladman throughout the 1960s, 1970s, and 1980s was fundamental to the development of modern high-strength low-alloy steels. Further innovations continue, with new advanced manufacturing technologies and techniques being developed on the Advanced Manufacturing Park by Sheffield's universities and other independent research organisations. Organisations located on the AMP include the Advanced Manufacturing Research Centre (AMRC, a research partnership between the Boeing Company and the University of Sheffield), Castings Technology International (Cti) and TWI (The Welding Institute).

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