BT ‘worth £1bn a year to economy of Suffolk and Essex’
BT has generated more than £1billion for the economies of Suffolk and Essex over the past year, according to a report commissioned by the telecoms giant.
Regeneris Consulting, which compiled the report, says that, taking into account direct employment, BT’s spending with contractors and suppliers and the spending of its employees, the company supports nearly 26,700 jobs in the East of England, including 7,700 in Essex and 5,300 in Suffolk.
The total contribution of BT to the local economy in terms of “Gross Added Value” is put at £605million in Essex, £565m in Suffolk and £2.3bn across the East of England as whole.
Tim Fanning, associate director at Regeneris Consulting, said: “Our analysis confirms the sheer scale and reach of BT’s ongoing economic contribution to the East of England and the UK as a whole.
“BT makes a contribution to every community across the UK. At the UK level, £1 in every £80 of wealth created is attributable to BT – this is one of the single largest contributions to the UK economy by any firm.”
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Dave Hughes, BT’s regional director for the East of England, said: “There are few organisations in the East of England that have a larger impact on the day-to-day life and future prospects of the region than BT. We are one of the region’s largest private sector employers and investors – our investment in fibre broadband in the East of England alone amounts to hundreds of millions of pounds – and the services that we provide are a vital part of every community.
“The facts and figures shown in this report highlight the full extent of BT’s contribution to the local economy as we go about the daily business of keeping people connected and introducing new technologies, which are creating fresh opportunities and transforming lives.”
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Besides the economic impact of BT’s day-to-day business activities, the report draws attention to positive ways in which BT’s people contribute to the communities where they live and work, whether as local shoppers or as volunteers.
Last year, BT people in the East of England contributed more than 9,400 volunteering days to worthy causes, amounting to in-kind support of more than £3m. Across the UK, the figure is 50,500 days, worth more than £15m. In addition, MyDonate, BT’s commission-free online fund-raising service, has helped to raise more than £2.8m for charities across the East of England.
The report also highlights how BT is one of the country’s leading investors in innovation with its spending on research and development in 2014-15 reaching £502m.