BT’s rollout of super-fast broadband could create 26,000 new jobs in London over the next 15 years, it has been claimed.
In a new report, Regeneris Consulting predicts the upgrade of BT's broadband network can deliver a near-£20 billion boost for the capital between now and 2027.
The high-speed technology is expected to improve the performance of London businesses, helping to increase jobs and strengthen the economy.
Of the £20 billion, £7.3 billion is expected to come in improved business performance, while £11 billion will be generated through business creation and almost £1 billion through increased home-working.
Regeneris Consulting has forecast the creation of 6,600 new London start-up businesses, while an additional 73,000 City employees are expected to work from home.
BT’s super-fast broadband programme has already made the technology available to more than 2.2 million homes and businesses in the capital.
Under current upgrade plans, this figure is expected to pass the 2.5 million mark by the end of 2012.
Chet Patel, BT’s Regional Director for London and Chair of its London Regional Board, said the report demonstrates the "great benefits" that BT’s activities, including its major investment in super-fast broadband, are delivering for London and will continue to deliver in the years ahead.
"The company plays a vital role in the prosperity and well-being of this capital city, from the massive economic boost provided by our activities to the 21,000 hours of volunteering activity carried out by BT’s people," he stated.
"Indeed BT is one of the few businesses to have people based in every borough."
Mr Patel commented that BT’s plans to roll-out next generation broadband across London are now at "a very advanced stage".
"But we want to go further and would very much welcome the opportunity to have an even bigger impact on London’s economy by working with the public sector to make the high-speed technology as widely available as possible," he stated.
"It is vital that we continue to grow and help our customers, stakeholders and employees to thrive as we work together to create a more prosperous London."
Colin Stanbridge, Chief Executive of the London Chamber of Commerce, claimed that first-class communications are "the lifeblood of our capital city".
He said that is of "particular importance" in this Olympic year, especially to small businesses in areas such as Tech City.
“Our members increasingly depend on fast broadband and BT is making a major contribution to the future prosperity of London," he stated.
"Its success and impact on the economy underpins London’s success as the digital capital of Europe."