Broadband News
News, views and analysis
Broadband billion dollar plan unveiled by Obama
09 Jul 2010 | 09.15 Europe/London
President Obama is due to unveil $795m worth of grants and loans to fun 66 infrastructure projects which aim to spread fast broadband connections across the country.
The loans and grants are due to be topped up by outside investment, equating to a billion dollar plan to push fast broadband services across the country.
The initiative is the first part of the stimulus package passed a year ago which identified a $7.2bn project to roll out broadband as one of the means of aiding the economy’s recovery. The packages announced today will support 5000 temporary jobs, it is claimed, and benefit 685,000 businesses, 900 health care facilities and 2,400 schools.
Obama believe sthe move shows America is “competing aggressively to make sure the job and industries and the markets of tomorrow take root in the United States”.
The money will be spread across several states, although Iowa looks set to benefit the most with $90m of funding, double what the next state in line, Georgia, will receive
The loans and grants are due to be topped up by outside investment, equating to a billion dollar plan to push fast broadband services across the country.
The initiative is the first part of the stimulus package passed a year ago which identified a $7.2bn project to roll out broadband as one of the means of aiding the economy’s recovery. The packages announced today will support 5000 temporary jobs, it is claimed, and benefit 685,000 businesses, 900 health care facilities and 2,400 schools.
Obama believe sthe move shows America is “competing aggressively to make sure the job and industries and the markets of tomorrow take root in the United States”.
The money will be spread across several states, although Iowa looks set to benefit the most with $90m of funding, double what the next state in line, Georgia, will receive