BROADBAND COMMUNITIES is the leading source of information on digital and broadband technologies for buildings and communities. Our editorial aims to accelerate the deployment of Fiber-To-The-Home and Fiber-To-The-Premises.
Issue link: http://bbcmag.epubxp.com/i/766533
32 | BROADBAND COMMUNITIES | www.broadbandcommunities.com | NOVEMBER/DECEMBER 2016 ECONOMIC DEVELOPMENT Leveraging Broadband For Economic Development In October 2016, Broad B and Communities held a conference in Minneapolis on broadband and economic development. The conference presented both research findings and real-life success stories about communities improving their broadband access and leveraging broadband for economic development. Following are some highlights. A BBC Staff Report Michael Render, RVA LLC: Fiber to the home benefits communities' economic vitality. Great broadband is the second most important factor (after safe streets) people consider in moving to a new community. It's the second most important factor (after laundry appliances) for choosing a new home and the No. 1 factor in choosing a new apartment. Fiber to the home adds 3 percent to the price of a home and 8 percent to the rent on an apartment. Home-based business income is much higher with FTTH – 13 percent of FTTH subscribers operate home-based businesses, and 58 percent of the income they generate comes from outside their communities. Michael Curri, Strategic Networks Group: Broadband enables 36 percent of all jobs, and the businesses that use broadband most effectively derive 52 percent of their revenues from internet use. Fiber-connected businesses, on average, use broadband more effectively than businesses with other types of connections because higher utilization is correlated with higher download speeds and even more strongly with higher upload speeds. us, a community's economic benefits from high-quality broadband far outweigh any revenue that the network operator collects. For the great majority of businesses, broadband availability is essential or important to being able to operate in a given location. Rural businesses can't use the internet as effectively as others – generally, effective utilization increases with the size of the city [and thus with the network speed available]. Small businesses don't always have enough resources – either internal or external – to use the internet effectively and thus forgo many opportunities for increasing revenues and reducing costs. Economic development agencies and network operators can help educate small businesses about the internet applications that Fiber Networks Promote Economic Development Michael Render, RVA LLC Michael Curri, Strategic Networks Group