A recent report commissioned by CityFibre, the UK’s largest independent full fibre platform, reveals that Worcester is poised to enjoy substantial economic benefits from the deployment of a faster and more reliable full fibre network.
The study, conducted by the consultancy firm Hatch, assesses the economic impact of CityFibre’s £21 million investment in Worcester. Over a fifteen-year period, the report predicts several positive impacts, including £131 million in productivity and innovation gains, £29 million from an expanded workforce, £533,000 in local authority efficiency savings, and an £83 million increase in housing value.
The report emphasizes that hybrid and flexible working, supported by full fibre access both at home and in the office, is enabling access to a larger talent pool for employers. In Worcester, this expansion of the workforce is expected to generate £29 million in benefits, while the boost in productivity facilitated by flexible working is estimated to exceed £7 million.
The technological benefits of CityFibre’s network in Worcester are also highlighted in the report, which indicates that it will help unlock £311 million in growth value from 5G services, £87 million from the Internet of Things, and £55 million from Smart City initiatives, including intelligent traffic management systems and street lighting.
On a national scale, the UK is projected to gain over £38 billion in potential economic benefits. The report underscores that the largest contributions will come from productivity improvements and innovation, contributing more than £22 billion in economic value across the country. Enhanced digital connectivity enhances business productivity and innovation, increasing turnover and fostering the creation of new businesses and business models.
Neal Wright, Area Manager for Worcester at CityFibre, expressed pride in the investment being made in Worcester, emphasizing that full fibre supports growth while providing the foundation for innovation and investment. The report’s findings underscore the extensive economic impact that this infrastructure will bring to Worcester.
Wright added, “We’re proud of the investment we’re making in Worcester, and the success of the rollout so far. People are already starting to benefit from next-generation connectivity, and we can’t wait to see the positive impact it will have in the future.”
