BT generated a £30 million for the Fife economy in the past year, according to an independent report.
The report, by Regeneris Consulting, also shows the communications company supports 395 jobs in Fife – and nearly 12,400 across Scotland – through direct employment, its spending with contractors and suppliers, and the spending of employees.
The overall beneficial financial impact of BT activities across Scotland expressed as a ‘Gross Value Added’ (GVA) contribution totalled £1 billion – equivalent to £1 in every £115 of the nation’s GVA.
It’s the first time the company has passed the £1bn 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 £176m 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.”
Brendan Dick, BT Scotland director, added: “There are few organisations in Scotland that have a larger impact on the day-to-day life and future prospects of the nation than BT.
“We are one of Scotland’s largest private sector employers and investors – our investment in fibre broadband across the country amounts to hundreds of millions of pounds - and the services that we provide are a vital part of every community.
“The facts and figures shown in this report highlight the full extent of BT’s contribution to the Scottish economy as we go about the daily business of keeping people connected and introducing new technologies, which are creating fresh opportunities and transforming lives.”
Mr Dick added: “The report emphasises BT’s really significant value to Fife, which is among the ten local authority areas in Scotland which see the greatest level of BT impact.”
See the full report ‘Social Study 2015 – The Economic Impact of BT in the United Kingdom’ which analyses the role BT plays in economic, business and community life across the England, Scotland, Wales and Northern Ireland.