CityFibre claims its planned rollout of full fibre infrastructure will generate £38 billion in economic benefit for the UK over the next 15 years.
The company is one of several firms rolling out fibre to the premise (FTTP) across the UK, targeting more than eight million homes and businesses by 2025.
It is the third largest network infrastructure operator after Openreach and Virgin Media O2.
This latest analysis, based on deployment in 285 locations, argues that the gains will include £22 billion in productivity benefits, £4.8 billion from a widened workforce, £1.2 billion in flexible working, as well as the creation of 16,000 jobs.
Furthermore, it is claimed that industry and society will benefit from new technologies such as 5G and the Internet of Things (IoT).
The report also argues that the gains will do much to address the digital divide, by driving innovation and opportunities in more parts of the country.
This report demonstrates just how powerful a tool Full Fibre is in levelling up the UK,” said Greg Mesch, CityFibre CEO. “Digital infrastructure competition is driving billions of pounds of private investment from incumbents and challengers and every pound spent is unlocking economic growth, new jobs and more efficient public services in some of the most deprived parts of the country.
"We’re delighted to see the impact of our contribution and we look forward to playing an ever-larger role in future.”
Claims over the economic value of connectivity to the country are common among providers seeking additional support or favourable regulatory environments. BT argues that its businesses add £24 billion in additional value to the UK every year, for example.
However, analyses also demonstrate the huge potential of next-generation connectivity in driving economic value and addressing societal challenges.
The government agrees and has targeted full nationwide coverage by 2030 in its ‘Levelling Up’ whitepaper which describes how it plans to make the country more equal and narrow the gap between rich and poor. However, this is later than the 2025 target originally stated in the Conservative manifesto before the 2019 General Election, while only £1.2 billion of £5 billion in promised funding will be delivered during this Parliament.
- Looking for an ultrafast upgrade? Check out our best fibre broadband deals.