Extent of telecoms giant’s contribution to regional economy revealed
The activities of BT Group added £650m to the East Midlands economy last year and supported more than 8,000 jobs across the region, according to a new report by consultancy firm Hatch.
The report looked at how much BT Group – which includes EE, BT, Plusnet and Openreach – spent on employees and suppliers and the estimated knock-on effect that had on economies across the country.
The telecommunications giant, which employs more than 3,000 people across the East Midlands, made a direct contribution to the region’s economy estimated at around £380m in the last financial year. Through the company’s employees and its supply chain, and their subsequent spending, Hatch estimates the resulting boost to the region’s economy amounted to around £650m.
BT’s spending with East Midlands suppliers added £160m to the total.
Philip Jansen, chief executive of BT Group, said: “BT Group plays a vital role at the heart of the UK economy. We’re one of only a handful of companies that serves customers in every corner of the country.
“We’ve continued our major investment in building next generation full fibre and mobile connectivity rapidly across the UK. We’ve already reached 9.6 million premises with full fibre, and our 5G mobile network now reaches 60% of the UK population. The benefits to families and businesses are huge: new jobs, economic growth and innovation, across every nation and region.”
Jansen added: “We’re also transforming BT Group so that we’re fit to power the UK economy of the future. Our new state-of-the-art offices, spread across the UK, are a central part of that, bringing colleagues together in brilliant spaces that will enable collaboration and help us to better serve our customers.”