Superfast broadband boosts Cornish economy, report finds
Cornwall's economy has given been given a £186 million boost thanks to the roll-out of superfast broadband across the region.
Independent research by Plymouth University and Buckman Associates examined the impact of the Superfast Cornwall initiative. The superfast broadband programme, which had funding from the EU and Cornwall Council, cost around £132 million and originally aimed to get 80 per cent of properties in the county connected to superfast broadband.
However, the study shows that it has already delivered a positive return on investment and has far exceeded its targets by already supplying superfast broadband to 95 per cent of properties across Cornwall and the Isles of Scilly, including 30 per cent of homes that now have access to ultrafast fibre to the premises (FTTC).
The report also stated the Superfast Cornwall scheme had created or safeguarded 4,500 jobs thanks to the faster speeds afforded by fibre. By the time the first stage of the roll-out is due to be completed - in June 2016 - it is predicted that with the economic impact will rise from £186.1 million to more than £250 million.
The study asked 12,000 local business about the effect the scheme had on them, with 79 per cent saying that they had experienced performance improvements, while nearly half said they have been able to develop new goods and services.
Digital Economy Minister Ed Vaizey MP commented when the report was published on 3 July: "Superfast Cornwall has done a remarkable job in transforming the digital landscape of the region.
"Through the generation of new sales, the opening up of overseas markets and enabling the development of new goods and services, superfast businesses are now seeing, on average, four times more growth than that of non-connected ones."
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