Gigabit City

Derby is set for a multi-million-pound windfall according to an economic impact report which estimates £510m in value could be unlocked following the roll-out of a new full fibre network by CityFibre.

Economic consultancy Regeneris examined how the economy is likely to benefit from near-universal full fibre connectivity, quantifying the impact in the city over a 15-year period.

The city’s business community stands to benefit enormously from this. Access to gigabit-speed full fibre connectivity could unlock £39m in business productivity and innovation. With full fibre, companies will be able to develop and promote new, richer products and services online and benefit from greater exposure to the international marketplace.

Derby already has an established reputation in advanced manufacturing and engineering and this research shows start-up growth could be boosted to the value of £21m. What’s more, the increased ability for companies to support flexible working could also add £19m in value, by reducing barriers to work as well as improving employees’ work-life balance, motivation and retention.”

Dominika Walker, CityFibre’s city manager for Derby said: “With a new full fibre network being built beneath its streets, Derby is a forerunner of digital transformation in the UK. This report demonstrates that the city is set to enjoy huge economic benefits as a result of this roll-out. This is about more than just broadband, it is about the digital infrastructure set to power our economy for decades to come.”

Councillor Matthew Holmes, Derby City Council Deputy Leader and Cabinet Member for Regeneration, Planning and Transportation said: “We welcome this private investment by CityFibre into Derby to deliver a modern, state of the art infrastructure that will futureproof connectivity for residents and businesses.