Printed from http://www.electronista.com

Obama promises $800m in grants for broadband expansion

updated 06:40 pm EDT, Tue July 6, 2010

Grants and loans to be matched by $200m investment

President Barack Obama has promised an additional $800 million for loans and grants related to broadband expansion throughout the country. The funds represent a portion of the latest federal stimulus package, which totals approximately $800 billion.

Obama expects 5,000 jobs to be created as a result of the 66 new infrastructure projects financed by the stimulus money. The efforts will result in communication lines connected to private residences, hospitals, schools, libraries, community colleges, and a variety of other areas.

The stimulus package allocates a total of $7.2 billion for grants and loans directly related to broadband expansion projects in all 50 states. The latest efforts follow the FCC's National Broadband Plan, a strategy for bringing broadband access to rural areas and other institutions that currently lack connections to high-speed Internet service. [via Reuters]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News