A NEW report commissioned by CityFibre, the UK’s largest independent full fibre platform, has identified that Dundee stands to be a huge beneficiary from the rollout of future-proof full fibre 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 £40m investment in Dundee will include £131m in productivity and innovation gains, £29m from a widened workforce and £79m in increased housing value.
Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Dundee can help unlock £311m in gross value added (GVA) from 5G services, £106m from the Internet of Things (IoT) and £55m 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 Dundee, working productivity uplifts are estimated to exceed £7m.
The direct impact of network construction is also identified as a major contributor to Dundee’s local economy, creating network construction jobs within CityFibre’s build partners and supply chain. Wherever possible, the new jobs are being recruited locally to support the rollout.
The UK, as a whole, stands to benefit from over £38bn in potential economic benefits, with more than £5bn of this being across CityFibre’s build in Scotland. 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.
Allan McEwan, Area Manager for Dundee at CityFibre, said: “This report demonstrates just how powerful and essential full fibre is as a catalyst for growth and a platform for innovation and investment. We’re extremely proud of our rollout in Dundee and we look forward to seeing how our £40m local investment will benefit residents and businesses over the decades to come.”
Leader of Dundee City Council, Councillor John Alexander, added: “Dundee has been named as one of the world’s top ‘places of the future’ and having reliable, state-of-the-art connectivity underpins our ambitions to create opportunities through new technologies.”
“This report shows just how valuable this new digital infrastructure is, not just in the millions of pounds that are generated for the local economy but also in the opportunities that it creates to embrace exciting new technologies that will benefit us all.”
“We welcome this hugely important investment by CityFibre. It is fantastic that residents and businesses across the city will be able to take advantage of the many benefits of full fibre.”
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: https://cityfibre.com/homes