Fast broadband ‘injects £36m into economy’

The new SuperfastBroadband network in North Yorkshire has helped businesses become better connected.

The new SuperfastBroadband network in North Yorkshire has helped businesses become better connected.

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The first phase of the Superfast North Yorkshire broadband project has contributed £36 million to the local economy, a new survey found.

The figures are based on a variety of factors including changes in internet use by businesses connected to fibre and the resulting impact on turnover, profitability and employment.

The independent analysis by Regeneris Consulting highlights a range of benefits for businesses connected to the new fibre broadband network.

The report shows a large proportion of small and medium sized firms have become more productive and grown as a result of their new fibre connection. The analysis indicates that one new job has been created for every ten firms connected to the network.

The report says that for every £1 invested by Superfast North Yorkshire, £7 will be added to the economy of North Yorkshire within the next two years.

Phase one of the Superfast North Yorkshire fibre broadband deployment was completed in spring of this year.

Carl Les, leader of North Yorkshire County Council said: “This is fantastic news for North Yorkshire, it is great to see North Yorkshire businesses taking advantage of public investment in superfast broadband to spearhead the growth of our economy.”