One of Bradford's most successful businesses boasts an amazing 30 millionaires, it has been revealed.
The exclusive club of hard-working engineers and bosses has been pivotal in creating one of the world's leading electronics companies.
Filtronic Plc boss Professor David Rhodes said Saltaire - where the company he gave birth to is based - is fast becoming millionaires' row.
He also said there were a number of workers worth a million or more based at neighbouring hi-tech firm Pace Micro Technology.
Prof Rhodes said: "What's being done here is not being done anywhere else in the world. The concentration of millionaires in this area, I suggest, is greater than almost any other part of the country. There are at least 30 in our company alone."
And his view was backed by Jack Tordoff, chairman of Bradford-based top car firm JCT600 whose Brooklyn and Leodis Court dealerships in Leeds are a huge success. Among the cars on sale are Porsche, Lotus, Rolls-Royce and Jensen.
He said: "There has been a big increase in sales of top-of-the-range cars over the past two years and top people from Pace and Filtronic have come to buy top cars from us."
Prof Rhodes said the big-earners at Filtronic - which employs 750 people in the Bradford area - are top-grade electronics engineers who invent and improve the company's range of mobile telephone base-station equipment and the electronic defence systems made at other Filtronic firms in Baildon.
They have benefited from good salaries as well as share-holdings and generous share options.
Five years ago, before Filtronic was floated on the stock market, 20 per cent of the company's shares were offered for distribution among employees. "There are quite a large number that have made £100,000 or £200,000. Quite a few of them are in the general workforce," he added.
Filtronic employs 3,000 people world-wide and the company's shares, initially valued at just over £1 each are now worth £23.
Chris Schofield, Filtronic's director and company solicitor, said: "We do have a wide spread of employee share ownership and many people who held shares at the time of the flotation in 1994 have done well and are likely to do well in the future.
"That applies to senior management and below. Many people who have sold their options are worth considerably more than before, but I am not aware of anybody who has a millionaire lifestyle at all. These are Bradford people who play their cards close to their chest."
Pace Micro Technology, based at Salts Mill, also has its share of people who have worked their way to become multi-millionaires because of the company's success in exporting its range of set-top boxes for satellite, digital and cable TV.
Founder members David Hood, Barry Rubery and Robert Fleming both greatly increased their personal fortunes when Pace went public in 1997.
David Hood has seen his wealth rise to about £150 million, according to last year's Sunday Times Rich List. Mr Hood is also founder of Multiflight based at Leeds-Bradford Airport. The firm has a major engineering department and offers flight training in fixed wing plane and helicopter flying.
Mr Rubery, who left Pace shortly afterwards, is now numbered among the 30 richest men in the country and the Rich List puts his wealth at £50 million. Pace's shares, which were floated at £1.72, are now worth £10.54.
Robert Fleming, Pace's operations manager and director of engineering, is a former RAF medic who now owns a number of World War II fighter planes.
Mike Cartwright, Policy and Representation Executive for Bradford Chamber of Commerce, said that the rise of cutting edge firms was excellent news for Bradford.
He said: "As well as creating jobs and wealth for the local communities the success of these companies enhances the image of the whole district.
"It shows that the district can be and is a success which can adapt to and embrace technological and industrial change."
Prof Rhodes, among the UK's top 100 wealthiest, started Filtronic 23 years ago with the object of creating a small family company.
Two years ago, however, he bought up two concerns in Finland and the USA for a total of £84m - one of the rare examples of a Bradford firm buying foreign companies.
He says a chartered electronics engineer straight from university can expect to start with Filtronic on a salary of at least £20,000.
"There are people here on £100,000. It varies enormously and depends on how people progress. It's most important to reward and retain good people," he added.
There is a world-wide shortage of qualified electronics engineers. Demand exceeds supply, which means that anyone hoping for a career in advanced electronics can look forward to rich returns.
So what's the secret to this kind of success? "A good education. You've got to have top grades in advanced maths and physics," Prof Rhodes said.
End
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