BT Group is responsible for generating £1 in every £105 produced in the North West’s economy, according to an independent report published today.
‘The Economic Impact of BT Group plc in the UK’ report, by Hatch Regeneris, shows that the communications company generated a £1.6bn (£1,600 million) contribution, expressed as “Gross Value Added” (GVA), to the North West economy during the 2017/18 financial year.
The report estimates that the equivalent of 20,700 full-time jobs in the North West are supported through BT’s direct employment, its spending with contractors and suppliers and the spending of its employees.
BT Group directly employs 7,460 people in the North West, with a further 1,670 employed as contractors. It’s estimated that BT Group supports one in every 110 employees working in the North West’s private sector, reinforcing its position as one of the region’s leading employers.
The Group also spent nearly £416 million with suppliers based in the North West.
Across the UK, BT Group directly employed 94,800 people (FTE) and supported an estimated total of 290,000 full-time jobs. It also generated, in total, almost £23bn (£22.8bn) to the UK economy.
BT Group and EE are making major investments in the North West, bringing 5G to Manchester and Liverpool in 2019, building on major full fibre infrastructure already underway.
Tim Fanning, Director at Hatch Regeneris, said: “Our analysis underlines how vast BT Group’s contribution is to the UK economy, particularly across the nations and regions.
“BT Group is almost unique in contributing to the economies of virtually every community across the UK, supporting significant levels of GVA spend and employment opportunities per region.”
The report from Hatch Regeneris comes in addition to a recent report by PWC which highlighted that BT Group is the 5th highest tax contributor in the UK among FTSE 100 companies, and the highest contributor among non-financial companies. The PWC report also identified BT as the largest capital expenditure investor in the UK.
Kieran Charleson, BT Group Regional Director, North of England, said: “Few companies play as important a role in the North West as BT Group. Not only does BT connect friends, families and businesses across the UK, but we also make a significant contribution to the region’s economy.
“We’re proud to be one of the region’s largest private sector employers and investors. Our investments, including the latest 5G mobile technology through our mobile network EE, will ensure the UK continues to be one of the world’s best-connected economies.
“With 9,130 people directly employed in the region, spending their salaries in local businesses, as well as regularly volunteering on activities such as our Barefoot tech literacy programme in schools, our people are at the heart of the community.”
Damian Waters, Director, CBI North West, added: “BT is a major employer in the North West and has a big impact on the economy and jobs. It is good news to see this significant presence in the region continuing.
“BT Group’s investment in the area not only means a boost to the local economy, but also to skills and high quality jobs, including recruiting apprentices and graduates. BT’s investment in the fastest networks and latest technology is also vital for the region. Being connected is essential for our businesses and for improving quality of life in all our communities.”