The economic impact BAE Systems has on the South West, through creating and supporting jobs, research and development and supply chains, has been revealed.
According to research by Oxford Economics, BAE Systems had 1,800 full time employees in the region and sustained a total of 9,500 local jobs throughout its supply chain and beyond.
The company, which provides advanced technology to the 海角视频 from its sites in the South West, from specialist communications and software systems to submarine design and cyber capabilities, said it is hiring "thousands more experienced professionals and early careers trainees this year" across the South West.
Data published in the ‘BAE Systems’ contribution to the 海角视频 economy’ report showed that last year the company spent £400m with almost 500 suppliers in the South West and provided mentorship and support for SMEs in a boost for regional business.
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Across the 海角视频, BAE Systems supported 132,000 jobs and contributed £11bn to GDP – equivalent to 0.4% of the domestic economy.
Almost 40% of the company’s employees are based in the 海角视频’s most deprived areas, where long term employment opportunities are especially important. To support learning and development in these communities and across its workforce, the company spent £180m on education and skills last year, almost doubling its annual investment since 2020.
Last year the company recruited almost 70 apprentices and graduates in the South West and the Ofsted Outstanding training BAE Systems provides helps as they embark on their careers.
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In Gloucester, the company's digital, data, cyber and intelligence business, BAE Systems Digital Intelligence, has filled 85 positions this year. The company plans to hire into an additional 76 roles and strengthen its workforce to near 650 skilled professionals by the end of the year. The Gloucestershire team specialises in engineering solutions for complex local and geopolitical challenges in the defence and security industries.
Strong partnerships across industry, academia and SMEs are a vital part of BAE Systems’ work and the company invested £1.4 billion in research and development last year, both self-funded and on behalf of its customers, helping sustain the 海角视频’s valuable engineering and technology sectors.
Charles Woodburn, BAE Systems chief executive, said: “As one of the 海角视频’s largest employers, we recognise our responsibility to help deliver economic prosperity as well as national security. Our continued investment in skills, technology and the communities where we live and work supports thousands of jobs and is creating opportunities for people to play an important role in helping to keep our country and our allies safe.”
James Cartlidge, Minister for Defence Procurement, added: “We cannot keep the nation safe without the extensive support of the 海角视频 Defence industry. Defence companies support jobs and provide important boosts to local economies across the country. BAE Systems is no exception, driving prosperity and putting skills-building at the heart of their work.”
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