Sheffield played a major role in the Autumn Statement as millions in funding was announced for schemes in the city - from advanced manufacturing to banking.
Chancellor George Osborne announced £61m funding for seven Government-backed High Value Manufacturing Catapult centres, including the Advanced Manufacturing Research Centre and its nuclear sister in Rotherham.
They are set to invest in cutting-edge equipment to help around 2,250 manufacturers in areas such as robotics, printable electronics and carbon fibre composites.
Dick Elsy, chief executive of the High Value Manufacturing Catapult, said: “This is an extremely welcome announcement, which sends a key message that government takes manufacturing very seriously and recognises the importance of strategic long term investment.
“In our three years of existence, we have developed such a strong track record, that many overseas governments use us as a benchmark of success.”
The Chancellor also announced Sheffield University and the AMRC would share in £235m for the Sir Henry Royce Institute for Advanced Material Science which will be based in Manchester but will have a branch in Sheffield.
Prof Keith Ridgway CBE, executive dean of the AMRC, said: “This is further confirmation of the Sheffield region’s place at the forefront of developing technology that can give UK manufacturers a global competitive edge.”
Meanwhile, the British Business Bank, based in Sheffield, will receive an additional £400m for its venture capital programme and £500m of new lending guarantees for its enterprise finance guarantee scheme.
The bank was established in 2013 to improve access to finance for small businesses.