Submarine programme has pumped £400m into North West
BAE Systems’ Dreadnought submarine programme has boosted the North West’s economy by £400m, new figures have revealed.
Nearly half of the 30,000 jobs supported by the programme reside in the North West.
Working with partners Rolls-Royce and the Submarine Delivery Agency as part of the Dreadnought Alliance, BAE Systems estimates it will spend in the region of £7.5 billion with 1,500 supply chain companies over the life of the programme across England, Scotland, Wales and Northern Ireland.
The Dreadnought class boats will be the Royal Navy’s biggest, most powerful and most technically advanced submarines when they begin to enter service from the early 2030s and will play a pivotal role in the nation’s defence and security for decades to come.
Work on the first two boats in the class is well under way at the company’s shipyard in Barrow-in-Furness, Cumbria.
£2.5 billion worth of contracts have already been placed with suppliers across the UK.
In the North West, £400m has been spent to date, including on power systems and sensors, supporting 13,500 jobs.
Of the 30,000 jobs which are sustained by the Dreadnought programme, nearly 8,000 are directly employed by BAE Systems.
There are 11,800 jobs in the programme’s supply chain and a further 10,200 (induced) jobs supported across the country.
Dreadnought will have a sustained and lasting impact on UK employment, supporting thousands of jobs reaching all UK regions to at least 2035.
Steve Timms, Managing Director of BAE Systems’ Submarines business, said: “The Dreadnought programme is delivering critical sovereign defence capability that is fundamental to our national security and makes an important contribution to the country’s economic prosperity.”
Defence Secretary, Wyre MP Ben Wallace said Dreadnought was “investing billions into the economy, supporting thousands of jobs and benefiting 1,500 companies."