Rolls-Royce gives Derby its drive
Published: 2010-04-15 09:24:13
There have been few winners among the UK's industrial cities in recent years but Derby stands out for the strength of its local economy.
(Sourced from the FT.)
Rolls-Royce, which has significant operations in the city, remains central to that success, as highlighted in the Planes, Trains and Automobiles report from consultant URS.
It forecasts that, under optimistic assumptions, aerospace employment could increase by one third to about 20,900 by 2019 and output by £1.5 billion to £6.1 billion.
Aerospace contributes £4.6 billion of economic output to Derby a year, or 27 per cent of the total. That figure is strikingly high given the relative decline of manufacturing in most British cities in recent years.
For example, successive factory closures mean that Coventry, still regarded by many Britons as an industrial city, relies on manufacturing for about 11 per cent of output, which is about the UK average.
The URS report found that three-quarters of the 700 businesses in the Midlands' aerospace supply chain had direct relationships with Rolls-Royce. About 12,500 people in Derby work at "Royces", as locals sometimes call the company, most of them specialising in aerospace.
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