Economy of Sheffield
Encyclopedia
Sheffield
has an international reputation for metallurgy
and steel
-making. It was this industry that established it as one of England
's main industrial cities during the 18th, 19th and 20th centuries. This industry used Sheffield's unique combination of local Iron
, Coal
and water power supplied by the local rivers. This fuelled a massive growth in the city's population that expanded from 60,995 in 1801 to a peak of 577,050 in 1951. However, due to increasing competition from imports, it has seen a decline in heavy engineering industries since the 1960s, which has forced the sector to streamline its operations and lay off the majority of the local employment.
Today the city is ranked among the top 10 UK cities as a business location and continues to regenerate itself as a modern sports and technology
based city. The steel industry now concentrates on more specialist steel-making and, despite appearances, currently produces more steel per year than at any other time in its history. However, the industry is now less noticeable as it has become highly automated and employs far fewer staff than in the past. Today the economy is worth over £7 billion a year.
discovered the crucible technique for steel manufacture, at his workshop in the district of Handsworth
. This process had an enormous impact on the quantity and quality of steel production and was only made obsolete, a century later, in 1856 by Henry Bessemer
's invention of the Bessemer converter which allowed the true mass production of steel. Bessemer had moved his Bessemer Steel Company to Sheffield to be at the heart of the industry. Thomas Boulsover
invented Sheffield Plate
(silver-plated copper), in the early 18th century. A more recent major Sheffield steel invention was that of stainless steel
by Harry Brearley
in 1912, and the work of Profs. F. B. Pickering
and T. Gladman throughout the 1960s, '70s, and '80s was fundamental to the development of modern high strength low alloy steels.
The Sheffield Assay Office
, which opened in 1773, stamps precious metals with the city's crown
mark. The Company of Cutlers in Hallamshire
was created in 1624 to promote the city's steel industry around the world. The head of this company (the Master Cutler
) is held in equal regard as the city's lord mayor
and it has powers over the trademarking of steel with the Sheffield area.
While iron and steel have always been the main industries of Sheffield, coal mining
has been a major feature of the outlying areas, and the Palace of Westminster
in London
was built using limestone
from quarries
in the nearby village of Anston
.
The Sheffield Industrial Museums Trust
, a partnership between Sheffield City Council, Sheffield Hallam University and The Cutlers Company of Hallamshire, has preserved key sites associated with the city's industrial heritage, some of which actually still operate ancient equipment for the public, such as the Abbeydale Industrial Hamlet
and the Kelham Island Museum
. Northwest of the city lies Wortley Top Forge
, which was a heavy ironworks of international renown. It is a site of historical and industrial importance, contributing to Sheffield's reputation for manufacturing high-quality, precision steel
goods, though actually it is located within the boundaries of neighbouring Barnsley.
(GVA) of Sheffield at current basic prices published (pp. 240–253) by Office for National Statistics with figures in millions of British Pounds Sterling.
includes hunting and forestry
includes energy and construction
includes financial intermediation services indirectly measured
Components may not sum to totals due to rounding
The city once spearheaded the knowledge advances which gave it preeminence in steel and cutlery production, today the transfer of technology from Sheffield's universities is claimed by some to be "guaranteeing" Sheffield's continuing industrial and commercial evolution, creating cutting-edge enterprises across the city. High technology businesses such as the US company Fluent, Inc., for example, have chosen Sheffield as the centre for their international operations and so has Jennic
, specialists in semiconductor
design for the home automation
, commercial building automation, and industrial process monitoring and control markets.
Insight Enterprises will invest £50m in a new European headquarters in the city resulting in 1700 jobs over the 2005-2008 period, while Boeing, through its collaboration with the University of Sheffield
will be at the centre of an Advanced Manufacturing Park (AMP) on the edge of the City, home to a cluster of businesses in the advanced manufacturing sector. Other areas of employment include call centre
s, the City Council
, universities and hospital
s.
After many years of decline there are now signs that the Sheffield economy is seeing a revival. The 2004 Barclays Bank Financial Planning study revealed that, in 2003, the Sheffield district of Hallam was the highest ranking area outside London for overall wealth, the proportion of people earning over £60,000 a year standing at almost 12%. A survey by Knight Frank revealed that Sheffield
was the fastest growing city outside of London
for office and residential space and rents during the second half of 2004.
Cushman & Wakefield's respected Global Research Reports include the "UK Cities Monitor 2008" which placed Sheffield among the top ten "best cities to locate a business today", and reported 3rd and 4th places respectively for best office location and best new call centre location. The same report places Sheffield in 3rd place regarding "greenest reputation" and 2nd in terms of the availability of financial incentives.
As an example of the City's move away from traditional industry, Sheffield is now the home to one of the Countries fastest growing online job boards, My Job Group, whose HQ is based there and serves the City with its very own jobs board. This site competes strongly with the traditional way of finding employment in Sheffield which is through the local newspaper whose main vacancies day is Thursday.
Organised by the Sheffield Chamber of Commerce and Industry, the Sheffield Business Awards
is an awards ceremony held on an annual basis to help highlight and promote business and industry in Sheffield and boost the economy of the city.
Sheffield
Sheffield is a city and metropolitan borough of South Yorkshire, England. Its name derives from the River Sheaf, which runs through the city. Historically a part of the West Riding of Yorkshire, and with some of its southern suburbs annexed from Derbyshire, the city has grown from its largely...
has an international reputation for metallurgy
Metallurgy
Metallurgy is a domain of materials science that studies the physical and chemical behavior of metallic elements, their intermetallic compounds, and their mixtures, which are called alloys. It is also the technology of metals: the way in which science is applied to their practical use...
and steel
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
-making. It was this industry that established it as one of England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
's main industrial cities during the 18th, 19th and 20th centuries. This industry used Sheffield's unique combination of local Iron
Iron
Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...
, Coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
and water power supplied by the local rivers. This fuelled a massive growth in the city's population that expanded from 60,995 in 1801 to a peak of 577,050 in 1951. However, due to increasing competition from imports, it has seen a decline in heavy engineering industries since the 1960s, which has forced the sector to streamline its operations and lay off the majority of the local employment.
Today the city is ranked among the top 10 UK cities as a business location and continues to regenerate itself as a modern sports and technology
Technology
Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...
based city. The steel industry now concentrates on more specialist steel-making and, despite appearances, currently produces more steel per year than at any other time in its history. However, the industry is now less noticeable as it has become highly automated and employs far fewer staff than in the past. Today the economy is worth over £7 billion a year.
History
The steel industry dates back to at least the 14th century. In 1740 Benjamin HuntsmanBenjamin Huntsman
Benjamin Huntsman was an English inventor and manufacturer of cast or crucible steel.-Biography:Huntsman was born the third son of a Quaker farmer in Epworth, Lincolnshire. His parents were Germans who had emigrated only a few years before his birth.Huntsman started business as a clock, lock and...
discovered the crucible technique for steel manufacture, at his workshop in the district of Handsworth
Handsworth, South Yorkshire
Handsworth is a suburb of south eastern Sheffield, in South Yorkshire, England. Handsworth has a population of approximately 15,000. It covers an overall area of approximately...
. This process had an enormous impact on the quantity and quality of steel production and was only made obsolete, a century later, in 1856 by Henry Bessemer
Henry Bessemer
Sir Henry Bessemer was an English engineer, inventor, and businessman. Bessemer's name is chiefly known in connection with the Bessemer process for the manufacture of steel.-Anthony Bessemer:...
's invention of the Bessemer converter which allowed the true mass production of steel. Bessemer had moved his Bessemer Steel Company to Sheffield to be at the heart of the industry. Thomas Boulsover
Thomas Boulsover
Thomas Boulsover , Sheffield cutler and the inventor of Sheffield Plate, was born in what is now the Ecclesfield district of the city and died at his home at Whiteley Wood Hall, on the River Porter....
invented Sheffield Plate
Sheffield plate
Sheffield plate is a layered combination of silver and copper that was used for many years to produce a wide range of household articles. These included buttons, caddy spoons, serving utensils, candlesticks and other lighting devices, tea and coffee services, serving dishes and trays, tankards and...
(silver-plated copper), in the early 18th century. A more recent major Sheffield steel invention was that of stainless steel
Stainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....
by Harry Brearley
Harry Brearley
Harry Brearley is usually credited with the invention of "rustless steel" in the anglophone world.-Life:...
in 1912, and the work of Profs. F. B. Pickering
Frederick Brian Pickering
Professor Frederick Brian Pickering is a British metallurgist. His research and development activities contributed significantly to the creation of the stronger and lighter steels....
and T. Gladman throughout the 1960s, '70s, and '80s was fundamental to the development of modern high strength low alloy steels.
The Sheffield Assay Office
Sheffield Assay Office
The Sheffield Assay Office is one of the four remaining Assay Offices in the UK.- Overview :In 1773, Sheffield's silversmiths joined with those of Birmingham to petition Parliament for the establishment of Assay Offices in their respective cities...
, which opened in 1773, stamps precious metals with the city's crown
Crown (headgear)
A crown is the traditional symbolic form of headgear worn by a monarch or by a deity, for whom the crown traditionally represents power, legitimacy, immortality, righteousness, victory, triumph, resurrection, honour and glory of life after death. In art, the crown may be shown being offered to...
mark. The Company of Cutlers in Hallamshire
Company of Cutlers in Hallamshire
The Company of Cutlers in Hallamshire is a trade guild of metalworkers based in Sheffield, England. It was incorporated in 1624 by an Act of parliament. The head is called the Master Cutler...
was created in 1624 to promote the city's steel industry around the world. The head of this company (the Master Cutler
Master Cutler
The Master Cutler is the head of the Company of Cutlers in Hallamshire established in 1624. Their role is to act as an ambassador of industry in Sheffield, England. The Master Cutler is elected by the freemen of the company on the first Monday of September of each year and the position taken in the...
) is held in equal regard as the city's lord mayor
Lord Mayor
The Lord Mayor is the title of the Mayor of a major city, with special recognition.-Commonwealth of Nations:* In Australia it is a political position. Australian cities with Lord Mayors: Adelaide, Brisbane, Darwin, Hobart, Melbourne, Newcastle, Parramatta, Perth, Sydney, and Wollongong...
and it has powers over the trademarking of steel with the Sheffield area.
While iron and steel have always been the main industries of Sheffield, coal mining
Coal mining
The goal of coal mining is to obtain coal from the ground. Coal is valued for its energy content, and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United States,...
has been a major feature of the outlying areas, and the Palace of Westminster
Palace of Westminster
The Palace of Westminster, also known as the Houses of Parliament or Westminster Palace, is the meeting place of the two houses of the Parliament of the United Kingdom—the House of Lords and the House of Commons...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
was built using limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
from quarries
Quarry
A quarry is a type of open-pit mine from which rock or minerals are extracted. Quarries are generally used for extracting building materials, such as dimension stone, construction aggregate, riprap, sand, and gravel. They are often collocated with concrete and asphalt plants due to the requirement...
in the nearby village of Anston
Anston
The villages of North Anston and South Anston are the principal constituents of the civil parish of North and South Anston, in the Metropolitan Borough of Rotherham in South Yorkshire, England...
.
The Sheffield Industrial Museums Trust
Sheffield Industrial Museums Trust
The Sheffield Industrial Museums Trust is an independent charitable trust based in Sheffield, England, that runs the Sheffield City Council-owned Kelham Island, Abbeydale Industrial Hamlet, and Shepherd Wheel museums....
, a partnership between Sheffield City Council, Sheffield Hallam University and The Cutlers Company of Hallamshire, has preserved key sites associated with the city's industrial heritage, some of which actually still operate ancient equipment for the public, such as the Abbeydale Industrial Hamlet
Abbeydale Industrial Hamlet
Abbeydale Industrial Hamlet is an industrial museum in the south of the City of Sheffield, England. The museum forms part of a former steel-working site on the River Sheaf, with a history going back to at least the 13th century...
and the Kelham Island Museum
Kelham Island Museum
The Kelham Island Museum is an industrial museum on Alma Street, alongside the River Don, in the centre of Sheffield, England. It was opened in 1982.-The site:...
. Northwest of the city lies Wortley Top Forge
Wortley Top Forge
Wortley Top Forge is an historic former finery forge and ironworks originally dating back to the seventeenth century, although evidence suggests iron working took place in the vicinity as early as the fourteenth century...
, which was a heavy ironworks of international renown. It is a site of historical and industrial importance, contributing to Sheffield's reputation for manufacturing high-quality, precision steel
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
goods, though actually it is located within the boundaries of neighbouring Barnsley.
Economy
This is a chart of trend of regional gross value addedGross value added
Gross Value Added ' is a measure in economics of the value of goods and services produced in an area, industry or sector of an economy...
(GVA) of Sheffield at current basic prices published (pp. 240–253) by Office for National Statistics with figures in millions of British Pounds Sterling.
| Year | Regional Gross Value Added | Agriculture | Industry | Services |
|---|---|---|---|---|
| 1995 | 4,971 | 9 | 1,579 | 3,383 |
| 2000 | 6,162 | 8 | 1,631 | 4,523 |
| 2003 | 7,280 | 9 | 1,778 | 5,494 |
includes hunting and forestry
includes energy and construction
includes financial intermediation services indirectly measured
Components may not sum to totals due to rounding
Today's Economy
| Labour Profile | ||
|---|---|---|
| Total employee jobs | 239,941 | |
| Full-time | 156,407 | 65.2% |
| Part-time | 83,533 | 34.8% |
| Manufacturing | 33,568 | 14.0% |
| Construction | 9,239 | 3.9% |
| Services | 196,646 | 82.0% |
| Distribution, hotels & restaurants | 57,924 | 24.1% |
| Transport & communications | 11,575 | 4.8% |
| Finance, IT, other business activities | 43,694 | 18.2% |
| Public admin, education & health | 70,442 | 29.4% |
| Other services | 13,011 | 5.4% |
| Tourism-related | 18,146 | 7.6% |
The city once spearheaded the knowledge advances which gave it preeminence in steel and cutlery production, today the transfer of technology from Sheffield's universities is claimed by some to be "guaranteeing" Sheffield's continuing industrial and commercial evolution, creating cutting-edge enterprises across the city. High technology businesses such as the US company Fluent, Inc., for example, have chosen Sheffield as the centre for their international operations and so has Jennic
Jennic
Jennic Limited was a privately held UK-based fabless semiconductor company founded in 1996. The company developed a range of wireless microcontrollers that support low-power wireless standards, particularly 802.15.4, 6LoWPAN and ZigBee, and also supplied wireline communications...
, specialists in semiconductor
Semiconductor
A semiconductor is a material with electrical conductivity due to electron flow intermediate in magnitude between that of a conductor and an insulator. This means a conductivity roughly in the range of 103 to 10−8 siemens per centimeter...
design for the home automation
Home automation
Home automation is the residential extension of "building automation". It is automation of the home, housework or household activity. Home automation may include centralized control of lighting, HVAC , appliances, and other systems, to provide improved convenience, comfort, energy efficiency and...
, commercial building automation, and industrial process monitoring and control markets.
Insight Enterprises will invest £50m in a new European headquarters in the city resulting in 1700 jobs over the 2005-2008 period, while Boeing, through its collaboration with the University of Sheffield
University of Sheffield
The University of Sheffield is a research university based in the city of Sheffield in South Yorkshire, England. It is one of the original 'red brick' universities and is a member of the Russell Group of leading research intensive universities...
will be at the centre of an Advanced Manufacturing Park (AMP) on the edge of the City, home to a cluster of businesses in the advanced manufacturing sector. Other areas of employment include call centre
Call centre
A call centre or call center is a centralised office used for the purpose of receiving and transmitting a large volume of requests by telephone. A call centre is operated by a company to administer incoming product support or information inquiries from consumers. Outgoing calls for telemarketing,...
s, the City Council
City council
A city council or town council is the legislative body that governs a city, town, municipality or local government area.-Australia & NZ:Because of the differences in legislation between the States, the exact definition of a City Council varies...
, universities and hospital
Hospital
A hospital is a health care institution providing patient treatment by specialized staff and equipment. Hospitals often, but not always, provide for inpatient care or longer-term patient stays....
s.
After many years of decline there are now signs that the Sheffield economy is seeing a revival. The 2004 Barclays Bank Financial Planning study revealed that, in 2003, the Sheffield district of Hallam was the highest ranking area outside London for overall wealth, the proportion of people earning over £60,000 a year standing at almost 12%. A survey by Knight Frank revealed that Sheffield
Sheffield
Sheffield is a city and metropolitan borough of South Yorkshire, England. Its name derives from the River Sheaf, which runs through the city. Historically a part of the West Riding of Yorkshire, and with some of its southern suburbs annexed from Derbyshire, the city has grown from its largely...
was the fastest growing city outside of London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
for office and residential space and rents during the second half of 2004.
Cushman & Wakefield's respected Global Research Reports include the "UK Cities Monitor 2008" which placed Sheffield among the top ten "best cities to locate a business today", and reported 3rd and 4th places respectively for best office location and best new call centre location. The same report places Sheffield in 3rd place regarding "greenest reputation" and 2nd in terms of the availability of financial incentives.
As an example of the City's move away from traditional industry, Sheffield is now the home to one of the Countries fastest growing online job boards, My Job Group, whose HQ is based there and serves the City with its very own jobs board. This site competes strongly with the traditional way of finding employment in Sheffield which is through the local newspaper whose main vacancies day is Thursday.
Organised by the Sheffield Chamber of Commerce and Industry, the Sheffield Business Awards
Sheffield Business Awards
The Sheffield Business Awards is an annual event, held in Sheffield to recognise and reward Sheffield City region business success.-Overview:The awards are organised each year by the Sheffield Chamber of Commerce and Industry...
is an awards ceremony held on an annual basis to help highlight and promote business and industry in Sheffield and boost the economy of the city.