Blog » The Economic Benefits of Broadband
In a troubled economy, broadband gives businesses the competitive boost they need.
As President of the Information Technology and Innovation Foundation (ITIF), a proud partner of Speed Matters, my colleagues and I promote public policies that will advance technological innovation and productivity. Together, we're raising awareness of the economic benefits to broadband expansion.
High speed connections accelerate development by providing new opportunities for innovation, expansion and e-commerce. The Economic Growth and Quality Jobs Benefits section highlights the many ways in which broadband boosts business:
- Studies show that each additional $5 billion investment in broadband creates 250,000 jobs - 100,000 direct and indirect jobs from telecom and IT equipment spending plus another 150,000 in "network effects" spurring new online applications and services.
- Jobs involved in the building and expansion of broadband networks pay 42 percent more than the average for manufacturing jobs in America.
- From 1998 to 2002, employment in communities with broadband grew 1 percentage point more than in communities without it.
- Broadband networks attract investment to areas that would not otherwise be viable to many businesses such as rural areas and inner-city regions.
- The expansion of energy efficient smart grids, which high speed communications are an integral part of, is expected to dramatically improve economic growth, energy efficiency and provide thousands of new quality U.S. jobs.
Check out this fact sheet for even more information about how broadband can help spur economic growth in America. If you like what you read, [spread the word] about the benefits of a connected nation and help ITIF and Speed Matters promote broadband expansion today.