Oxford Economics research Boeing benefits for Britain
The UK is Boeing’s largest source of supply in Europe, third globally after the US and Japan, with approximately half of Boeing’s European employees based in the UK.
Boeing also confirmed that its direct employment has now surpassed 2,000 – the company hired, on average, a new employee per day in 2015 – and that spending with the UK supply chain in 2015 was £1.8 billion ($2.65 billion), up from £1.4 billion ($2.2 billion) in 2014 and more than twice the £744 million ($1 billion) in 2012. This growth in employment will continue in 2016 - the company’s centenary year - and beyond.
“Boeing continues its growth story in the UK,” said Sir Michael Arthur (right), president Boeing UK and Ireland. “The prosperous partnership between our country and our company goes from strength to strength. The whole Boeing team is committed to the UK, our customers and our partners for the long-term.”
Summary of research from Oxford Economics
Source: Oxford Economics 2015
New facilities are opening in 2016 in Frimley, Surrey and Welwyn Garden City, Hertfordshire to support further Boeing’s customers in the UK, Europe and beyond.
Boeing community programmes supported more than 5,000 young people through education, training and scholarships in 2014.
Boeing directly employed 1,516 people in the UK in 2014, 17% more than in 2012, the last time this research was carried out by Oxford Economics, and more than it did in any other European country. The direct employment figure in the UK is now more than 2,000, twice the employment figure from 2011, at 2,030, with a further 203 open positions.
A wide range of UK businesses also benefitted from Boeing’s supply chain purchases of inputs of goods and services in 2014. That includes more than 250 UK suppliers of parts, engines, and engineering services, as well as countless other businesses in those firms’ supply chains. Boeing spent $2.2 billion (£1.4 billion) with UK suppliers in 2014 and the resulting economic activity – including exports – is estimated by Oxford Economics to have supported 12,700 jobs in the UK.
Oxford Economics also estimates that Boeing’s wage payments to staff supported a further 9,500 jobs in the UK in 2014. This economic activity occurred as the firm’s UK and other European employees bought consumer goods and services from UK companies.