05 Feb BT Group contributes £2.7bn to East of England economy
BT Group is responsible for generating £1 in every £55 produced in the East of England’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 £2.7 billion contribution – expressed as “Gross Value Added” (GVA)* – to the East of England economy during the 2017/18 financial year.
The report estimates that the equivalent of 47,200 full-time jobs in the East of England are supported through BT’s direct employment, its spending with contractors and suppliers and the spending of its employees.
BT Group directly employs 11,700 people in the East of England, with a further 678 employed as contractors. It’s estimated that BT Group supports one in every 40 employees working in the East of England’s private sector, reinforcing its position as one of the region’s leading employers.
The Group also spent nearly £1bn (£993m) with suppliers based in the East of England.
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’s main research facility is located at Adastral Park – close to Martlesham in Suffolk – which employs more than 3,000 people.