Rotherham set to benefit from economic boost of almost half a billion pounds

A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has found that Rotherham will reap “major economic benefits” from the roll out of a faster and more reliable full fibre network.

The study by the consultancy Hatch estimates that, over a 15-year period, the positive impacts of CityFibre’s £29m investment in Rotherham will include £284m in productivity and innovation gains, £62m from a widened workforce, £17m in local authority efficiency savings and £145m in increased housing value.

Network construction is also predicted to create new jobs within CityFibre’s build partners and supply chain, which will also generate a boost in economic value as most will be recruited locally to support the rollout.

Hybrid and flexible working, supported by full fibre access at home and in the office, is also unlocking access to a larger pool of talent for employers. In Rotherham this widening of the workforce is expected to unleash £62m in benefits while the productivity boost enabled by flexible working is estimated to exceed £16m.

Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Rotherham will help unlock £675m in growth value from 5G services, £259m from the Internet of Things and £119m from Smart City initiatives, like intelligent traffic management systems and street lighting.

The UK, as a whole, stands to benefit from over £38bn in potential economic benefits. Productivity improvements and innovation are responsible for the largest impact, contributing more than £22bn in economic value nationwide.

Faster and more reliable digital connectivity boosts business productivity and innovation, increasing turnover and contributing to the formation of new businesses and business models.

Natalie Ward, area manager for Rotherham at CityFibre, commented: “We are extremely proud of how our full fibre rollout is progressing in Rotherham. Full fibre has far-reaching benefits, encouraging growth while simultaneously providing the platform needed for innovation and investment.

“The report demonstrates this, as well as the tangible benefits full fibre can bring, and I look forward to witnessing the positive impact on Rotherham’s residents and businesses in the years to come.”

By Matthew Neville – Senior Correspondent, Bdaily

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