A new report commissioned by CityFibre, the UK’s leading independent full fibre platform, reveals that Newcastle is on the brink of significant economic benefits due to the ongoing rollout of future-proof full fibre infrastructure across the city.
According to the study conducted by the consultancy Hatch, titled “Economic Impact of Full Fibre Infrastructure from CityFibre’s Network,” Newcastle is set to experience substantial economic gains over a fifteen-year period as a result of CityFibre’s £62 million investment in the city. These gains include an estimated £440 million in productivity and innovation improvements, £97 million attributed to a broader workforce, and a £213 million boost in housing values.
The report also highlights the technological advancements made possible by CityFibre’s network in Newcastle. It is expected to unlock £1 billion in gross added value (GVA) from 5G services, £297 million from the Internet of Things, and £185 million from Smart City initiatives, such as intelligent traffic management and enhanced street lighting.
The ongoing shift towards remote and flexible working, facilitated by access to full fibre connectivity at home and in offices, is also noted for its role in increasing access to a larger labor pool. This trend is projected to result in productivity gains exceeding £25 million in Newcastle.
The report identifies the direct impact of network construction as a significant contributor to Newcastle’s economic growth. It generates jobs in network construction within CityFibre’s partner firms and supply chain. Whenever possible, these jobs are filled locally to support the rollout.
This nationwide rollout of full fibre infrastructure is not limited to Newcastle; it is expected to bring potential economic benefits of over £38 billion to the entire UK. The largest share of these benefits, over £22 billion, is attributed to productivity improvements and innovation resulting from faster and more reliable digital connectivity. This increase in productivity leads to higher turnovers and encourages the formation of new businesses and business models.
Paul Wakefield, CityFibre’s Area Manager for Newcastle, emphasized the significance of full fibre as a catalyst for growth and innovation. He highlighted Newcastle’s status as one of the UK’s best-connected cities, thanks to the extensive rollout of full fibre infrastructure, ensuring that residents and businesses have access to top-tier digital infrastructure to meet their needs.
