Netomnia, along with ISP sister company YouFibre has completed an additional fundraise of £147.5m in its accordion facility welcoming three new lenders: Barclays, Alpha Bank and Nord/LB.
Tue, 27/09/2022 - 11:31
CityFibre’s £52m investment into Plymouth’s digital infrastructure may unlock £420m in economic benefits, according to a report by Hatch.
The study estimates that over a fifteen-year period, Plymouth will see £233m in productivity and innovation gains, £51m from a widened workforce, £12m in local authority efficiency savings and £177m in increased housing value.
Technological benefits include £555m in gross added value (GVA) from 5G services, £210m from the Internet of Things and £98m from Smart City initiatives.
“The report demonstrates just how powerful and essential full fibre is as a catalyst for growth and a platform for innovation and investment,” said Kathryn Askew Smith, Area Manager for Plymouth at CityFibre.
Johnny Mercer, MP for Plymouth Moor View, said: This report reveals the huge benefits this network will bring our local economy.
“Fast and reliable broadband is essential for businesses, schools and families to make the most of opportunities online.”
