Bank of England Governor visits Rotherham

Published Thursday, 12th March 2015
Bank of England Governor visits Rotherham
Mark Carney, centre, with NAMRC chief executive Mike Tynan, left, and AMRC research director Keith Ridgway

Bank of England Governor Mark Carney was in Rotherham on 12 March, visiting the Nuclear Advanced Manufacturing Research Centre.

Mr Carney was in the region to see how the University of Sheffield AMRC with Boeing cluster of some of the highest-tech research, development and manufacturing is a key player in economic growth.

In what is expected to be his last public appearance before May’s General Election, Mr Carney said: "In my regular visits across the UK, I have come to realise the crucial role organisations such as the AMRC play in supporting both regional and national economies.

"The AMRC and many others have excelled because they have invested continuously in their most precious resort: their people. It is these people and the innovation they foster that will secure Britain’s continuing place at the forefront of global manufacturing."

That view was echoed by the Council and its regeneration arm, Rotherham Investment and Development Office (RiDO). Director of Planning, Regeneration and Culture Paul Woodcock said: "It's heartening to see our long-term vision for Rotherham's role in the City Region and national economy endorsed by no less a figure than the Governor of the Bank of England.

"We've worked closely since the earliest days with the visionary people behind the Advanced Manufacturing Research Centre and the Advanced Manufacturing Park, which hold so much promise for the future not just of Rotherham but of innovation, manufacturing and quality jobs."

Mr Carney was welcomed to the centre and given an overview of the AMRC cluster by Nuclear AMRC chief executive Mike Tynan and AMRC with Boeing research director Professor Keith Ridgway.

During his visit, the Governor was due to take part in a panel discussion with leading figures from advanced engineering and regional businesses, and giving a speech to an invited audience of around 200 business people. His speech was to be broadcast live on television and the internet.

He was also due to meet apprentices at the AMRC Training Centre, which provides the practical and theoretical skills that manufacturing companies need to compete globally. The vital economic role of vocational education has been emphasised in a new report co-authored by Keith Burnett, Vice-Chancellor of the University of Sheffield.

Mark Carney was appointed governor of the Bank of England in July 2013, after five years as governor of the Bank of Canada. The Bank of England’s responsibilities are defined by Parliament and have been significantly expanded since the financial crisis, but focus on promoting the good of the people of the UK by maintaining monetary and financial stability.

Read the vocational education report

Read Mr Carney's speech