Southend-on-Sea is poised for a substantial economic transformation, with CityFibre’s comprehensive full fibre infrastructure rollout expected to inject over £800 million into the local economy. A recent report commissioned by CityFibre, the UK’s leading independent full fibre platform, highlights the city’s significant potential for growth through the deployment of future-proof full fibre infrastructure.
The study, conducted by consultancy firm Hatch, titled “Economic Impact of Full Fibre Infrastructure from CityFibre’s Network,” estimates that CityFibre’s £50 million investment in Southend-on-Sea will yield numerous positive outcomes over a fifteen-year period. These include £296 million in productivity and innovation gains, £65 million from a broadened workforce, and the possibility of up to £497 million in increased housing values.
Significantly, the report underscores the technological benefits that CityFibre’s network could bring to Southend-on-Sea, potentially unlocking £705 million in gross value added (GVA) from 5G services, along with an additional £125 million from potential Smart City initiatives.
The ongoing trend towards remote and flexible working, facilitated by full fibre connectivity at home and in office spaces, is also expected to significantly benefit Southend-on-Sea. The report suggests that productivity gains from flexible working could exceed £17 million in the city.
Furthermore, the report recognizes the direct impact of network construction as a substantial contributor to Southend-on-Sea’s economic growth. The construction phase is expected to generate numerous job opportunities within CityFibre’s network of build partners and supply chain. These new positions are anticipated to contribute an estimated £23 million in incremental GVA to the local economy, with a strong focus on recruiting talent locally to support the rollout.
On a national scale, the United Kingdom stands to gain over £38 billion in potential economic benefits, with productivity improvements and innovation accounting for the lion’s share, contributing over £22 billion in GVA gains. This can be attributed to the demonstrably positive effect that faster and more reliable digital connectivity has on business productivity, innovation, increased turnover, and the formation of new businesses and business models.
Jean Gowin, Area Manager for Southend-on-Sea at CityFibre, emphasized the transformative nature of full fibre infrastructure for the city, highlighting its potential to unlock innovation and productivity gains for businesses, as well as provide seamless streaming experiences at home.
Anna Firth, MP for Southend West, expressed her excitement about the positive impact of CityFibre’s full fibre infrastructure on the city, foreseeing it as a catalyst for Southend-on-Sea’s progress and prosperity. With thousands of premises already connected, the expansion of the network throughout the entire city promises to create a wealth of opportunities for all residents.
Southend-on-Sea’s outlook is indeed promising, with CityFibre’s investment poised to drive economic growth and innovation, positioning the city as a vibrant hub of opportunity for its residents and businesses.
