Bolton to get £337M Boost From CityFibre’s Full fibre Rollout
A new report commissioned by CityFibre, the UK’s largest independent carrier-neutral full fibre platform, has found Bolton to be a big beneficiary of the launch of future-proof full fibre optic infrastructure, which is now in full swing across the city.
The study by the consultancy Hatch (Economic Impact of Full fibre Infrastructure from CityFibre’s Network) estimates that the positive impact of the CityFibre’s investment in Bolton will amount to 37 million over a period of fifteen years that includes 192 million in productivity and innovation gains, 42 Millions from an expanded workforce, 17 million from efficiency savings in local government and 128 million from increased home value.
Technological benefits are also a key focus of the report, which shows that the CityFibre’s network in Bolton will help unlock 456m gross value added (GVA) from 5G services, 218m from IoT and 81m from Smart -City initiatives. The ongoing transition to working from home and flexible working, aided by all-glass access at home and in the office, is also opening up employers’ access to a larger workforce. In Bolton, this expansion of the workforce is expected to unlock a GVA of 42 million, while productivity gains from flexible work are estimated at over 1.2 billion nationwide. Wherever possible, the new positions are recruited locally to support the roll-out. 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.
