96
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BROADBAND COMMUNITIES
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www.broadbandcommunities.com
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NOVEMBER/DECEMBER 2014
ECONOMIC DEVELOPMENT
The Killer App for Local Fiber
Networks
For a community fber network, economic development may be the killer app –
the application that validates the use of the platform.
By Jim Baller, Joanne Hovis and Ashley Stelfox / Coalition for Local Internet Choice and Masha Zager / Broadband Communities
N
early every U.S. community that has
developed a fber optic broadband
network or partnered with the
private sector to acquire one has put economic
development at the top of its list of reasons for
doing so. Communities increasingly recognize
that fber networks also provide critical
benefts for education, public safety, health
care, transportation, energy, environmental
protection, urban revitalization, government
service and much more. But only in revitalizing
and modernizing local economies and creating
meaningful, well-paying jobs do community
leaders, businesses, institutions and residents
consistently fnd common ground. In short,
economic development and job creation can
fairly be called the "killer app" for local fber
networks.
Despite the central role of economic
development and job creation in any discussion
of fber networks, there is still much to learn
about the relationship between them.
WHAT IS ECONOMIC
DEVELOPMENT?
Let's begin with defnitions. According to the
U.S. Economic Development Administration,
Economic Development creates the
conditions for economic growth and
improved quality of life by expanding
the capacity of individuals, frms, and
communities to maximize the use of their
talents and skills to support innovation,
lower transaction costs, and responsibly
produce and trade valuable goods and
services. Economic Development requires
efective, collaborative institutions
focused on advancing mutual gain for the
public and the private sector. Economic
Development is essential to ensuring our
economic future.
1
Similarly, the World Bank defnes economic
development as follows:
Te purpose of local economic
development is to build up the economic
capacity of a local area to improve its
economic future and the quality of life
for all. It is a process by which public,
business and nongovernmental sector
partners work collectively to create better
The Summit economic
development track will present
more FTTH success stories.
Austin, April 14–16.