Broadband stimulus applications total $28 billion
August 27, 2009
Broadband internet providers and other groups submitted more than 2,200 applications totaling $28 billion in requests for the $4 billion in grant funding currently available from the government's broadband stimulus package.
The Commerce Department's National Telecommunications and Information Administration (NTIA) and the Department of Agriculture's Rural Utilities Service (RUS) are charged with screening the broadband applications for loans and grants.
The Recovery Act provided a total of $7.2 billion to NTIA and RUS to expand access to and adoption of broadband services. Approximately $2.4 billion from RUS and up to $1.6 billion from NTIA is available in this first grant round.
"Applicants requested nearly seven times the amount of funding available, which demonstrates the substantial interest in expanding broadband across the nation," said Lawrence E. Strickling, administrator of NTIA. "We will move quickly but carefully to fund the best projects to bring broadband and jobs to more Americans."
Jonathan Adelstein, RUS administrator, said the Obama administration's goal is to target funds to serve areas of greatest need.
"The big demand for loans as well as grants demonstrates that we can leverage private investment with USDA's $2.5 billion to deliver the greatest bang for the taxpayers' buck," Adelstein said.
When including about $10.5 billion in matching funds committed by the applicants, there are over $38 billion in proposed broadband projects.
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