A major Lancashire employer has been hailed for its huge contribution to the UK’s economic prosperity.
Accounting for one per cent of UK exports and 0.46 per cent of GDP, BAE System’s UK operations are said to support highly skilled jobs, quality training and education, an extensive UK supply chain and research and development activities that are advancing the nation’s technological capability.
The report, Impact of BAE Systems on the UK Economy, provides a comprehensive analysis of BAE Systems’ economic impact in the UK at national and regional levels, examining the contribution of its employees and the wider supply chain, as well as the value of its exports and technological innovation to the broader economy.
Key points include that BAE contributes £7.9bn to the economy, is one of the most productive UK companies with productivity of £95,000 per worker, it exports £3.9bn of goods and services, has a supply chain of 7,000 companies and annual UK spending in the UK is in excess of £3.9bn
BAE Systems’ chairman, Sir Roger Carr said: “Our business and the many thousands of companies we work with across our supply chain are driving prosperity throughout the UK, providing valuable jobs and training.
“As one of the UK’s leading providers of quality apprenticeships, we have extended our commitment further, pledging to employ 2,000 apprentices by 2018.”