Chattanooga, Tenn., Makes Economic Case for Municipal Broadband [Government Technology]
Feb. 5 The economic impact of broadband has been debated by researchers, who haven’t always confirmed the conventional wisdom that high-speed Internet access leads to a significant return on investment. A key lesson from recent evidence is that broadband can have differential effects on the economy depending on the local or state context.
But for Chattanooga, Tenn., the relationship between its broadband utility and the economy is clearer than ever. According to a 10-year study conducted by economist Bento Lobo, Chattanooga’s fiber system has led to $2.69 billion in economic benefits and accounts for about 40 percent of all jobs created in Hamilton County over the last decade.
If a study published this week is any indication, the Tri-Cities region could use a little more fiber in its diet.
According to research by University of Tennessee at Chattanooga economist Bento Lobo, Chattanoogaâs early development of a municipal high-speed broadband network generated $2.7 billion in economic benefits since it was built in 2009.
With an initial investment of $396.1 million, including a $111.7 million stimulus grant from the Department of Energy, utility provider EPB helped generate 9,516 jobs, brought $244 million in new business, landed $110 million in research projects and saved businesses $260 million in improved electricity reliability.
Thatâs an impressive return on investment that should spark the interest of economic development officials everywhere.
Economic Study Documents $2.69 Billion In Benefit From Community Fiber Optic Network
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Newly-released, independent research documents $2.69 billion in community benefit during the first ten years since EPB of Chattanooga built Americaâs first Gig-speed community-wide network and used it to establish the nationâs most advanced smart grid power distribution system.
âChattanoogaâs smart city infrastructure was designed as a platform to give our customers the power to do more,â said David Wade, EPB President & CEO. âFrom education and innovation to job creation, itâs amazing to see how our customers are realizing possibilities we could only imagine ten years ago.â
Study Says Benefit Of Smart Grid System Is $2.69 Billion Friday, January 22, 2021 - by Gail Perry
A new study done by Dr. Bento Lobo, head of the Department of Finance and Economics at Rollins College of Business at the University of Tennessee at Chattanooga, has been released. It shows the benefits to the Chattanooga area as a result of the smart grid and fiber optics network that was installed in 2010. At the monthly meeting of the EPB board of directors, President and CEO David Wade shared some of the highlights of the report.
When the new systems were first being considered, said Mr.