CityFibre plans to invest £144 million in Weston-Super-Mare
Weston-Super-Mare expects over £144 million in economic boost from CityFibre full fibre rollout. Economic impact includes £73 million in productivity benefits, $16 million from an expanded workforce and £4 million in local government savings.
A new report commissioned by CityFibre, the UK’s largest independent carrier-neutral full-fibre platform, has found that Weston-super-Mare will be a major beneficiary of the deployment of future-proof full-fibre infrastructure, which is now in full swing across the city . The study by consultancy Hatch (Economic Impact of Full Fiber Infrastructure from CityFibres Network)
Technological benefits are also a focus of the report, which shows that the CityFibres network at Weston-Super-Mare will help generate £174m gross value added (GVA) from 5G services, 70m from IoT services and 31m from IoT services intelligent traffic control systems and street lighting. The ongoing transition to working from home and flexible working, aided by full fibre access at home and in the office, is also opening up employers’ access to a larger workforce. In Weston-Super-Mare, the increase in labour productivity is estimated at over 4 million.
The direct impact of network construction is also identified as an important factor in Weston-super-Mares’ economic growth creating network construction jobs within the CityFibre’s construction partners and supply chain. Wherever possible, the new positions will be recruited locally to support the rollout. The UK as a whole will benefit from over £38 billion in potential economic benefits. Productivity improvements and innovation are responsible for the greatest impact, resulting in more than 22 billion GVA gains nationwide. This is due to the positive effect that much faster and more reliable digital connectivity has been proven to have on business productivity and innovation, increasing sales and helping to create new companies and business models.
Kathryn Askew Smith, Area Manager for Weston-super-Mare at CityFibre said: This report demonstrates the power and imperative of whole fiber as a catalyst for growth and a platform for innovation and investment. We are extremely proud of our introduction to Weston-super-Mare and the investments that have been made here, and we look forward to seeing how this will benefit residents and businesses for decades to come.
Councillor Mark Canniford, North Somerset Council Executive for Placemaking and Business, said: “Full fibre-optic connections give our local businesses and residents access to some of the fastest broadband speeds available and is an essential element of our prosperous city. Investing in the network helps our economy stay competitive, innovate and thrive.”
