Better broadband adds £36 million to North Yorkshire economy
Better broadband in North Yorkshire has added £36 million to the local economy, a new survey has suggested.
Research by Regeneris Consulting has found that the first phase of the Superfast North Yorkshire broadband project has helped businesses in the county to grow. It states that the economic gains come as a result of superior productivity thanks to businesses using faster and more reliable internet connections.
Not only has superfast broadband boosted businesses' productivity, but this has in turn allowed them to increase turnover and hire new members of staff, which supports growth of the local economy. According to the analysis, one new job has been created for every 10 firms connected to the superfast broadband network.
Furthermore, the report claims that the economic benefits are by no means marginal; Regeneris Consulting says that for every £1 invested by Superfast North Yorkshire, £7 will be added to the economy of North Yorkshire over the coming 24 months.
The first phase of the Superfast North Yorkshire project was completed earlier this year, costing just under £31 million. In September 2015 it was revealed that a further £21 million was to be spent on further roll-outs, with the project aiming to ensure that every single home and business in the county can access broadband speeds of at least 25Mbps by the end of 2018.
Carl Les, leader of North Yorkshire County Council has commented on the success of the project so far, particularly the economic boost that was reported by Regeneris Consulting
"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," he said.
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