Economic Impact Analysis: nbn network investment plan
nbn’s $4.5 billion plan to upgrade and extend its fixed-line infrastructure is a high-impact and timely stimulus measure that will create 25,000 new jobs in Australia in the next two years.
The plan will bring close-to-gigabyte speeds to up to three-quarters of nbn’s fixed-line customers by 2023. It represents a significant opportunity to the Australian economy, with AlphaBeta’s analysis forecasting the creation of:
- 25,000 new jobs by FY22, including almost 10,000 in regional Australia;
- $6.4 billion GDP uplift annually by FY24, with $1.5 billion from regional Australia;
- 12,000 new businesses by FY24, including 2,800 in regional Australia; and
- 240 Business Fibre Zones (including 85 in regional areas), which will provide business-grade internet connectivity to local businesses to enable growth and foster innovation.
In total, the network investment plan will see nbn’s overall GDP impact reach $27.6 billion a year by 2024, compared with a no-nbn scenario.