Communications giant BT generated £362 million for the South Yorkshire economy in the past year, according to an independent report.
The study by Regeneris Consulting also revealed the company supports nearly 15,400 jobs in Yorkshire and the Humber – of which 4,500 are in South Yorkshire - 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 civil engineering sector in Yorkshire and the Humber as around £306m was spent with regional suppliers.
The overall beneficial financial impact of BT activities is expressed as a Gross Value Added contribution and for Yorkshire and the Humber, BT’s GVA totalled £1.13 billion.
This is equivalent to £1 in every £90 of the region’s total GVA – of which £362 million was in South Yorkshire.
Tim Fanning, associate director at Regeneris Consulting, said: “Our analysis confirms the sheer scale and reach of BT’s ongoing economic contribution to Yorkshire and the Humber 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.”
Tom Keeney, BT’s regional director for Yorkshire and the Humber, added: “There are few organisations in Yorkshire and the Humber that have a larger impact on the day-to-day life and future prospects of the region than BT.”