BAE SYSTEMS’ contribution to Lancashire’s economy has been laid bare in a new report.
The defence giant, which employs about 10,000 in the county, is the key player in ‘counterbalancing’ the concentration of high-tech jobs in the South East, according to Oxford Economics and GeoEconomics.
The report was commissioned by BAE to underline its key role in the North West economy.
It found that 70 per cent of manufacturing employees in the Ribble Valley work at BAE’s Samlesbury plant, which employs about 5,000.
BAE, which also has a huge base at Warton on the Fylde coast, spent £233million with its supply chain.
Chief executive Ian King said: “This report demonstrates the economic and social contribution made by thousands of skilled workers in the UK’s manufacturing and engineering sectors.
“We must continue to invest to build and maintain our nation’s competitive advantage.”
The report used information from 2009, the latest detailed information available.
In February BAE warned of tough times ahead, despite a two per cent rise in sales last year to £22.4billion.
Defence spending cuts are predicted to have a major impact in the near future.
The firm has cut 270 posts at Samlesbury, but bosses said these losses were found by people taking voluntary redundancy and retirements.
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