Economic impact BAE Systems has on Lancashire revealed

The economic impact BAE Systems has on Lancashire, through creating and supporting jobs, research and development and supply chains, has been revealed.

According to research by Oxford Economics, BAE Systems employs approximately 10,000 people across the county, spending £70m with more than 220 suppliers in the region in 2020 while it supported almost 1,000 jobs in the local supply chain.

The company’s air division is based in Warton and Samlesbury and plays a key role in international programmes such as the Eurofighter Typhoon and F-35, as well as progressing the design of next generation combat air technologies.

In Preston, BAE Systems’ Shared Services business provides central support activities for the wider UK organisation.

BAE Systems’ significant UK footprint across more than 50 sites and extensive supply chain mean it supported 143,000 jobs across the country and contributed more than £10bn to UK GDP, equivalent to 0.5% of the domestic economy.

Charles Woodburn, BAE Systems chief executive, said: “Our sector not only supports our national defence and security, but also provides unparalleled economic value which drives the UK’s prosperity.

“The investment we make in highly skilled jobs, research & development and our extensive supply chain supports thousands of companies and tens of thousands of people and the communities in which they live.”

Deputy president of The University of Manchester, Professor Luke Georghiou added: “At the University of Manchester our strategic partnership with BAE Systems is founded on collaboration in advanced materials, aerospace design and providing executive education in management of complex programmes and leadership.

“More recently we have extended the relationship to include data science, AI and cyber security. We are delighted to support BAE Systems in the North West and beyond through our leading edge collaborative research, employment of our graduates and providing training to increase the productivity of the existing BAE Systems workforce.”

Source: Business Live