A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has identified that Bracknell stands to be a huge beneficiary from the rollout of future-proof 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 £20m investment in Bracknell will include £288m in productivity and innovation gains, £63m from a widened workforce, £11m in Local Authority efficiency savings and £217m in increased housing value.
Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Bracknell will help unlock £686m in GVA from 5G services, £138m from the Internet of Things and £121m 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 Bracknell working productivity uplifts are estimated to exceed £16m.
The direct impact of network construction is also identified as a major contributor of Bracknell’s economic growth, creating network construction jobs within CityFibre’s build partners and supply chain. Wherever possible, the new jobs will be recruited locally to support the rollout.
The UK, as a whole, stands to benefit from over £38bn in potential economic benefits. 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.
Neil Madle, Area Manager for Bracknell 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 Bracknell, the £20m investment we are making here, and we look forward to seeing how it will benefit residents and businesses over the decades to come.”
Councillor Marc Brunel-Walker, Executive Member for Economic Development and Regeneration at Bracknell Forest Council, said: “We welcome the infrastructure investment being made by CityFibre. It’s clear that full fibre infrastructure will provide the springboard that Bracknell Forest needs to further develop its connectivity capabilities, unlocking more opportunities within business, education, and entertainment.
“This report highlights the many benefits which come from high quality connectivity, and the crucial part it plays in our lives. I’m certain that this investment will serve to strengthen Bracknell Forest’s standing in the digital world.”