KCOM’s Lightstream broadband has contributed £469m to Hull and East Yorkshire’s economy, as the provider announced the completion of its rollout.
The Hull-based company launched its ultrafast, full-fibre broadband back in 2012.
Seven years later, KCOM’s £85m project has been completed, putting Hull on the map as the 海角视频’s first full-fibre city.
Speaking at the Hull and Humber Tech Awards last week, KCOM’s managing director Sean Royce said: “This isn’t just significant for us at KCOM, it also has wider knock-on effects for the region as a whole.
“At a time when Prime Minister Boris Johnson is promising to accelerate the availability of full-fibre broadband across all of the 海角视频 – bringing the previous deadline forward from 2033 to 2025 – it’s worth taking a moment to consider what this means.
“Currently, just eight per cent of the 海角视频 has access to full fibre broadband and all the benefits it brings. That means over nine out of 10 people in the 海角视频 cannot get full-fibre broadband.
“Compare that the 100 per cent of homes and businesses that can now access full fibre in our region, and you can see how we are already leaps and bounds ahead of the rest of the country.”
Around 200,000 homes and businesses in the region now have access to KCOM’s Lightstream service.
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The benefits of ultrafast broadband go beyond faster browsing.
Research from tech research consultancy Innovation Observatory found that Lightstream had contributed £469m of economic wealth to Hull and surrounding areas.
This includes £234 million in extra Gross Value Added to the region’s economy and £204 million in salaries of additional staff employed in local businesses whose growth has been attributable to Lightstream.
Small businesses which run from home have also benefited from in excess of £1 million in additional revenues.
Councillor Stephen Brady OBE, leader of Hull City Council, said: “It is fantastic for the city that full fibre broadband is now available across KCOM’s whole network.
“All businesses rely on good connectivity, from the smallest to the largest, and this means businesses in Hull can be confident that they can work faster and more efficiently.
“The city is in the middle of an economic and technological revolution. Full fibre broadband is a vital part of this for both new businesses and existing businesses looking to expand and grow.”
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KCOM’s Lightstream rollout completion comes just months after the provider was bought by Australian investment firm Macquarie in a deal worth £627m.
The full implications of that takeover are not yet clear, with Macquarie yet to announce its comprehensive plans for the future of KCOM.
Mr Royce said: “Our investment in full fibre broadband to date has had a major impact on the region, enabling households to stream, surf and play seamlessly online and businesses to compete on a truly global scale, working faster and more efficiently.
“It has put this region at the vanguard of the 海角视频’s digital economy and set a benchmark for the rest of the 海角视频 to aspire to.”
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Business Live's Hull & East Yorkshire journalist is Phil Winter, also the business editor at the Hull Daily Mail and Hull Live.
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