Report reveals BT rings up Â£366million for Tees Valley
Telecoms giant BT was worth Â£366million boost to the Tees Valley economy in the past year, says an independent study.
The report, by Regeneris Consulting, examines the local impact of BT’s activities, including its takeover of EE.
It shows the firm BT around 12,600 jobs in the North East – more than 3,500 of them in Tees Valley - through direct employment, spending with contractors and suppliers and the spending of employees.
CBI regional director Sarah Glendinning said: “This latest research demonstrates the extent to which BT plays a key role in our local communities.
“There is not a businessperson or family in this region who – directly or indirectly – is not affected by BT’s activities as a supplier of essential services, such as superfast broadband, major employer, investor or purchaser.
“In a competitive world, in which trade and relationships increasingly transcend regional and national boundaries, rapid and effective communications are ever more vital.”
More than 8,500 people are directly employed by BT and its EE business in the North East – equivalent to one in three employees working in the region’s IT and communications sector. Of these, more than 2,500 work in the Tees Valley.
BT’s north East regional director Farooq Hakim said: “Few organisations have a more positive and direct impact on the local economy and the region’s communities than BT.
“The acquisition of EE means we can invest even further, enabling people living and working in Tees Valley to get access to the best communications - fixed line, mobile and broadband services - now and in the future.”
The report highlights that BT, including EE, was responsible for the employment of around 8,500 people and contractors in the North East 2015-16 - with a total income of around £224 million, and providing work for a further 4,000 people through spending with suppliers, as well as through the spending of its staff.
The company’s key centres include Darlington, Sunderland and Tyneside.