CityFibre’s £31m investment into Gloucester’s digital infrastructure may unlock £133m in productivity benefits for the region.
A study by consultancy Hatch lists potential benefit’s from CityFibre’s rollout, including £29m from a widened workforce, £626k in Local Authority savings and £105m in increased housing value.
Possible technological benefits including £316m in gross added value (GVA) from 5G services, £116m from the Internet of Things and £56m from Smart City initiatives.
Area Manager Neil Madle 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.”
Councillor Richard Cook, Leader of Gloucester City Council, said: “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.”