Fibrus Fuels £431m Economic Contribution in Northern Ireland Since 2020

Key findings from the report include:

• £431 million in total economic value generated since 2020
  • £74 million from company operations including turnover, wages, and job creation
  • £271 million through supply chain investment
  • £86 million from indirect spending by Fibrus employees across the local economy
• 435 people employed by Fibrus
• £50.6 million in potential annual productivity gains per year from full fibre broadband access
• Over £411K charitable contributions across Northern Ireland

The report, commissioned by Fibrus and produced by leading economists at Grant Thornton, is published as the company approaches the final stages of its transformative Project Stratum rollout. The report evaluates the substantial economic and social impact of Fibrus’ operations across Northern Ireland – bridging the digital divide and levelling up opportunities for rural communities.

To date, Fibrus has connected over 410,000 homes and businesses in Northern Ireland and Northern England through its rapid and ambitious network expansion. This report is on the back of a record-breaking year for the company, with a 143% surge in customers, a 50% rise in annual revenue, and recognition by Deloitte as Northern Ireland’s fastest-growing technology company, and the second fastest across the island of Ireland in 2024.

Employing 435 people, Fibrus has generated £431 million in total expenditure since its inception. £74 million of that comes directly from company operations, which includes turnover, wages, and job creation. An additional £271 million has been contributed through Fibrus’ supply chain spend, with a further £86 million driven by the indirect local spending of its employees – injecting money back into regional economies through everyday purchases at supermarkets, cafés, petrol stations, restaurants, and retail outlets.

Project Stratum was awarded to Fibrus in 2020 and was funded by the UK Government, Department for Economy and Department of Agriculture Environment and Rural Affairs. With the project now just months away from completion, connectivity has been delivered to almost 80K premises to date. The report reveals that once completed the project there will be potential productivity gains of £50.6m per annum driven by the rollout of Full Fibre broadband.

Northern Ireland now boasts 94% connectivity, outpacing other UK nations and regions. This makes the region has become a trailblazer in digital connectivity, helping to futureproof its workforce by enabling access to remote and hybrid job opportunities across the UK and beyond.

Beyond economic gains, the Grant Thornton report also highlights the strong social impact of Fibrus’ community initiatives. Since 2020, Fibrus has donated more than £411,000 to charitable causes and grassroots programmes, supporting local organisations and enhancing community resilience through its dedicated funding programmes.

Dominic Kearns, CEO and founder of Fibrus said:

“When we founded Fibrus five years ago, our sole purpose was to bring communities, homes and businesses a broadband service fit for everyday demands.

Thanks to Project Stratum, we have successfully delivered Full Fibre connectivity to almost 80,000 properties that had been left in the digital dark by the incumbent. This June, we will complete Project Stratum, the largest telecoms infrastructure project ever seen here, on time and within budget, changing the lives of those in rural communities and offering them the same opportunities as their urban counterparts.

This economic and social impact report lays out the real-world difference Project Stratum and Fibrus has made to Northern Ireland. It shows in no small terms that we aren’t just about faster internet speeds – we’re serious about driving economic growth, fostering connected communities and creating competition to ensure households get value for money and better customer service.”

Andrew Webb, Chief Economist at Grant Thornton said:

“The economic impact report highlights the significant contributions Fibrus has made to the Northern Ireland economy since it was founded. The £431 million generated is a testament to the company’s commitment to driving economic growth. This, plus the £50 million in productivity gains that Fibrus broadband enables, proves that the company has been a major contributor to improving Northern Ireland’s competitiveness and has strengthened the pulling power of our regional towns, bringing significant benefits to rural communities.”