The figures are significantly higher than in previous research and demonstrate the substantial impact KCOM has on the local economy through direct and indirect employment and spending with local suppliers.
The report by research and consulting firm Cushman & Wakefield, found KCOM’s operations support almost 1,600 full-time equivalent (FTE) jobs in Hull and East Yorkshire with a total value to the local economy of £187m.
The report shows a substantial increase in economic impact since the last in-depth research in 2010. At that time the company was found to generate £150m for the local economy and underpin more than 1,400 FTE jobs.
Gary Young, who heads up KCOM’s operations in Hull and East Yorkshire, said: “This report confirms the positive impact we have on the local economy and the lives of people across Hull and East Yorkshire.
“As a business founded in Hull and a mainstay of the local economy for many decades, we are proud that we make such a significant and growing contribution to local employment and economic wellbeing.
“Our core contribution comes from being one of the area’s biggest employers, with a workforce of around 1,000 people. Almost all of these live locally and spend much of their income in local shops and businesses.
“In addition, we are passionate about supporting local companies and using suppliers based in the region wherever possible. Our ‘buy local’ policy means we support hundreds more local jobs and contribute significantly to the success and growth of many Hull and East Yorkshire businesses.
“The benefits we bring to the region’s economy and wider community are a great source of pride for the company and our people.”
KCOM’s commitment to supporting local employment through its supply chain is illustrated by the economic impact of Light Source, which builds, manages and maintains fibre-optic networks. Light Source works with KCOM to deliver the company’s ultrafast fibre broadband rollout across Hull and East Yorkshire.
Nottingham – based Light Source employs 60 staff in Hull, most of them in a variety of installation and engineering roles. This workforce is growing continually due to the acceleration of KCOM’s Lightstream programme.
Managing director Steve Hill said Light Source Injects around £1.5m annually into the local economy through direct employment, payments to sub-contractors, buying services and materials, sponsorship and other expenditure – all as a result of its work for KCOM.
He said: “We’re not shipping people from Nottingham to Hull to work with KCOM and we’re certainly not shipping income from Hull to Nottingham. The money stays in the local economy.”
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