Gloucester to enjoy economic boost thanks to CityFibre’s full fibre rollout

A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has identified that Gloucester stands to be a huge beneficiary from the rollout of future-proof infrastructure which is now well underway across the city.

The study by the consultancy Hatch, (Economic Impact of Full Fibre Infrastructure from CityFibre’s Network), estimates that, over a fifteen-year period, the positive impacts of CityFibre’s £31m investment in Gloucester will include £133m in productivity and innovation gains, £29m from a widened workforce, £626k in potential Local Authority efficiency savings and £105m in increased housing value.

Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Gloucester could help realise £316m gross added value (GVA) from 5G services, £116m from the Internet of Things and £56m from Smart City initiatives, like intelligent traffic management systems and street lighting.

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 Gloucester, working productivity uplifts are estimated to exceed £8m.

The direct impact of network construction is also identified as a major contributor of Gloucester’s economic growth, creating network construction jobs within CityFibre’s build partners and supply chain. Wherever possible, the new jobs will be recruited locally to support the rollout.

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. This is due to the positive effect that far faster and more reliable digital connectivity has been shown to have on business productivity and innovation, increasing turnover and contributing to the formation of new businesses and business models.

Neil Madle, Area Manager for Gloucester at CityFibre, said: “We already know that full fibre is an essential catalyst for growth, but the findings within the Hatch report truly demonstrate just how powerful it is as a platform for innovation, ensuring Gloucester is well-equipped for the digital age.

“I’m proud of the investment we’re making in Gloucester and am thrilled to see the progress we’ve made so far. I can’t wait for residents and businesses to benefit from the many opportunities that full fibre connectivity will bring, now and in the future.”

Councillor Richard Cook, Leader of Gloucester City Council, said: “We welcome the news that this investment will have such a positive impact on our city. It comes at a time when we are working to make Gloucester a city fit for the future with the multi-million-pound regeneration of Kings Quarter well underway. This development is set to create a vibrant new social and digital campus for the south west acting as a catalyst for an emerging digital and cyber security sector.”

Residents interested in giving their home broadband a boost can find out more about the build and check whether services are live by visiting here.