A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has identified that Portsmouth and Havant stand to be huge beneficiaries from the rollout of future-proof infrastructure which is now well underway across both areas.
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 £32m investment in Portsmouth and Havant will include £335m in productivity and innovation gains, £74m from a widened workforce, £13m in Local Authority efficiency savings and £263m in increased housing value.
The direct impact of network construction is also identified as a major contributor of the areas’ 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.
Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Portsmouth and Havant will help release £798m gross added value (GVA) from 5G services, £249m from the Internet of Things and £35k from reduced CO2 emissions. £141m from Smart City initiatives, like intelligent traffic management systems and street lighting will be achieved through Local Authority services’ participation in full fibre
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 Portsmouth and Havant, working productivity uplifts are estimated to exceed £19m.
As a whole, the UK stands to benefit from over £38billlion 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.
Jon Russell, Area Manager for Portsmouth and Havant 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 progress in Portsmouth and excited to see the build now getting underway in Havant. We look forward to seeing the benefits it will bring to resident and businesses in the two neighbouring areas now and in the future.
Councillor Steve Pitt, Cabinet Member for Culture, Leisure and Economic Development at Portsmouth City Council, added:
“As a vital utility that we depend on every day, it’s no surprise that digital infrastructure can be a significant enabler of growth, as evidenced by this report. CityFibre’s investment is, therefore, not only future-proofing Portsmouth’s digital foundations, it will deliver wide-ranging benefits for residents and businesses for the long term. The Council’s own tenants are among the first to be able to seize the benefits as our housing team makes sure CityFibre excludes no one.”