BT generated £575 million for the Welsh economy in the past year

BT generated a massive £575 million for the Welsh economy in the past year – a £35 million increase on just two years ago, according to an independent report published today.

The report, by Regeneris Consulting, also shows that the communications company supports 7,520 jobs in Wales through direct employment, its spending with contractors and suppliers and the spending of employees.

In employment terms, BT’s impact in 2014-15 was larger than the country’s creative and media sector. Around £213 million was spent with local suppliers.

The overall beneficial financial impact of BT activities is expressed as a “Gross Value Added” (GVA)* contribution. For Wales the BT GVA totalled £575million – equivalent to £1 in every £90 of the total GVA for Wales.

Tim Fanning, associate director at Regeneris Consulting, said:

“Our analysis confirms the sheer scale and reach of BT’s ongoing economic contribution to Wales and the UK as a whole.

“BT makes a contribution to every community across the UK. At the UK level, £1 in £80 of wealth created is attributable to BT – this is one of the single largest contributions to the UK economy by any firm.”

Alwen Williams, BT’s regional director for Wales, said:

“There are few organisations in Wales that have a larger impact on the day-to-day life and future prospects of the country than BT.

“We are one of the largest private sector employers and investors in Wales – our investment in fibre broadband in Wales alone amounts to hundreds of millions of pounds – and the services that we provide are a vital part of every community.