Leeds set to benefit from £1.4bn economic boost via infrastructure investment

A new report commissioned by CityFibre, an independent carrier-neutral full fibre platform, has identified that Leeds stands to be a “huge beneficiary” from its rollout of future-proof full fibre infrastructure.

The study by the consultancy Hatch estimates that, over a 15-year period, the positive impacts of CityFibre’s investment in Leeds will include £972m in productivity and innovation gains, £214m from a widened workforce, £39m in Local Authority efficiency savings and £406m in increased housing value.

Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Leeds will help unlock £2bn in gross added value (GVA) from 5G services and £514m from the Internet of Things.

The continuing transition to home and flexible working, supported by full fibre access at home and in the office, is also unlocking access to a larger pool of labour for employers. In Leeds, flexible working productivity uplifts are estimated to exceed £55m.

The UK stands to benefit from over £38bn in potential economic benefits. Productivity improvements and innovation are responsible for the largest impact, driving more than £22bn in GVA gains nationwide.

The rollout of full fibre will also help unlock £53bn in GVA from 5G services. The shift from power-hungry copper networks to energy efficient full fibre networks is also calculated to save more than 2m tonnes of CO2 emissions.

Kim Johnston, regional partnership director at CityFibre, commented: “As the internet and all things digital become ever more integral to our daily lives, the report demonstrates just how powerful and essential full fibre is for the future of our towns and cities – both as a catalyst for growth and a platform for innovation and investment.

“We’re proud to be setting Leeds and the wider Yorkshire region up with the best possible platform to thrive in the digital age and truly unlocking its potential.”

Alex Sobel, MP for Leeds North West, added: “It is amazing to see the improvements in high-speed broadband across the West Yorkshire region.

“This is a crucial investment for businesses and people in my constituency that will reap numerous long-term benefits for the area, including reduced CO2 emissions, advanced full-fibre connectivity and better digital infrastructure in deprived areas.”

By Matthew Neville – Correspondent, Bdaily

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