BT’s £100 Million Boost For The North Yorkshire Economy
11 January 2011
External Link: www.bt.com
BT generated a massive £100 million for the North Yorkshire economy last year according to a report published today.
The report, by DTZ Consulting, also shows that the communications company supports 2,500 jobs in the county through direct employment, expenditure with contractors and suppliers and the spending of its employees.
The overall beneficial financial impact of BT activities is expressed as a “Gross Value Added” (GVA)* contribution. For North Yorkshire, the BT GVA totalled £100 million while across Yorkshire and the Humber BT boosted the economy by £730 million..
John Anderson, BT’s regional director for Yorkshire and the Humber, said: “BT contributes some very big numbers to North Yorkshire’s bottom line. These latest figures confirm the unique and vital role the company plays in the prosperity and well-being of the county.
“Every local authority area and every part of society benefit from our day-to-day activities and our commitment to be at the heart of every community. BT people across the county have a genuine desire to make a positive contribution to their society.
“It is vital as a business that we continue to grow and help our customers, stakeholders and employees to thrive as we work together to create a more prosperous North Yorkshire.”
‘The Economic Impact of BT in the United Kingdom’ report analyses the positive contributions made by BT through the salaries and wages of employees and contractors, and the beneficial impact of its procurement and overall expenditure around the UK. The report highlights that BT in Yorkshire and the Humber –
More than 99 per cent of homes and businesses across the region and the UK as a whole now have access to broadband. Speeds are improving and BT continues to invest in fibre-based super-fast broadband. BT has so far announced plans to make super-fast broadband available to more than 350,000 homes and businesses in Yorkshire and the Humber in locations including York and Harrogate.
In UK terms, BT’s GVA contribution is assessed at nearly £13 billion – 1 per cent of the UK’s total. It supports 270,000 jobs with a total value of £37 billion and last year spent £7.7 billion with UK-based suppliers.
Russell Whyte, an associate director and economist with DTZ Consulting, said: “The interesting thing about BT is that it is genuinely national, creating impact in every local community across the UK. The proportion of its total spend retained in the UK this year is notably higher than the average for the telecoms industry generally, which boosts its overall impact.”
BT, North Yorkshire, economy
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