BT’s £14 million pound boost for Dumfries & Galloway economy
BT generated a massive £14 million for the Dumfries and Galloway economy in the past year, according to an independent report published today.
The report, by Regeneris Consulting, also shows that the communications company supports nearly 12,400 jobs in Scotland – of which nearly 170 are in Dumfries and Galloway – through direct employment, its spending with contractors and suppliers and the spending of employees.
The overall beneficial financial impact of BT activities is expressed as a “Gross Value Added” (GVA)** contribution. Across Scotland the BT GVA totalled £1 billion – equivalent to £1 in every £115 of the nation’s total GVA – of which £14 million was in Dumfries and Galloway .
It’s the first time the company has passed the £1 billion milestone in Scotland, with an increase of £68m since figures were last published two years ago.
Across Scotland, one in every eight employees working in the IT and communications sector is directly employed by BT and one in every 120 employees working in the private sector is supported by its full economic impact.
In employment terms, BT’s impact in 2014-15 was larger than Scotland’s insurance sector. Around £176 million was spent with Scottish suppliers – an increase of £52m on the 2012/13 figure.
Tim Fanning, associate director at Regeneris Consulting, said: “Our analysis confirms the sheer scale and reach of BT’s ongoing economic contribution to Scotland 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.”