Reading set for potential £1bn fibre boost

CityFibre's £58m investment into Reading's digital infrastructure could unlock a £1bn economic boost for the city, according to a report by Hatch.

The study estimates that, over a fifteen-year period, the positive impacts will include £625m in productivity and innovation gains, £138m from a widened workforce and £18m in Local Authority savings.

CityFibre's network may also unlock £1bn in gross added value (GVA) from 5G services, £249m from IoT and £263m from Smart City initiatives.

“This report demonstrates just how powerful fibre is as a catalyst for growth and a platform for innovation and investment,” said Stacey King, Area Manager for Reading.

“Reading is quickly becoming one of the best digitally connected towns in the UK, and the opportunity for residents and local businesses is huge.”