Full fibre Economic Boost for Sunderland by CityFibre
A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has revealed that Sunderland will reap major benefits from the rollout of future-proof full fibre infrastructure, which is now well underway across the city. The study Consultancy firm Hatch (Economic Impact of Full fibre Infrastructure from CityFibre’s Network) estimates that the positive impact of CityFibre’s £62m investment in Sunderland will include £441m in productivity and innovation gains, £97m over 15 years an expanded workforce, 30 million in efficiency savings in local government and 226 in increased housing value.
Technological benefits are also a focus of the report, which shows that the CityFibres network in Sunderland will help generate £1 billion in gross value added from 5G services, £395 million from the Internet of Things and £186 million from smart city initiatives such as intelligent traffic management systems and street lighting.
The ongoing transition to working from home and flexible working, supported by full fibre access at home and in the office, is also opening up access for employers to a larger pool of workers. In Sunderland, the productivity gain from flexible work is estimated at over 25 million.
The UK will benefit from over £38 billion in potential economic benefits. 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.
62 million investments in the city’s brand new network will be created for both businesses and Sunderland residents.
