Communications giant BT generated nearly £1.2 billion for the Yorkshire regional economy over the past year, a new independent report shows.

The report, by Regeneris Consulting, also shows that BT supports more than 17,000 jobs in the region through direct employment, its spending with contractors and suppliers and the spending of employees. BT spent £344 million with regional suppliers in 2013.

BT’s overall positive financial impact on the regional economy is measured a Gross Value Added contribution – which shows the value from BT’s services and additional value generated through BT’s suppliers. In Yorkshire BT’s GVA was equivalent to £1 in every £80 of the region’s total GVA.

Tom Keeney, BT’s regional director, said: “BT and its employees make a major contribution to the region’s economy. They are a key part of its prosperity and economic well-being. BT is at the centre of every community and our day-to-day work benefits every local authority area right across the UK.

“Every day BT employees help millions of people to communicate, do business, be entertained and stay informed. But BT’s role in the region is more significant than even these massive figures suggest.

“In addition to the activities analysed in this comprehensive report, we are creating a high-speed fibre broadband network which will be essential to the future success of local businesses and households. The potential benefits to the region offered by that network are huge by any standards.”

The study highlights that BT is responsible for the employment of 6,900 people in Yorkshire, including 5,640 staff and 1,260 contractors – whose pay totals £224m.

Spending by BT with local suppliers also helps support a further 10,400 jobs.

Every BT employee is entitled to three fully paid days a year to volunteer for their chosen cause and in Yorkshire staff contributed 13,930 hours during the year.

Stephen Nicol, managing director of Regeneris Consulting, said: “Our analysis confirms the sheer scale and reach of BT’s economic contribution to the UK and its constituent local economies. BT makes a contribution to every town or city across the UK. At the UK level £1 in every £70 of wealth created is attributable to BT: this is one of the single most important contributions to the UK economy by any firm.”