Proposed Tax Incentives for Broadband Expansion Could Create 60,000+ Jobs
President Obama’s proposed economic recovery package, still under review in congress, includes tax incentives that promote the expansion of next-generation, fiber-based broadband networks. This incentive is part of Obama’s need to create jobs and expand economic growth.
A recent study recently by the Fiber to Home Council titled, “Economic Effects of Tax Incentives for Broadband Infrastructure Deployment,” found that such tax incentives could create more than 20,000 jobs in each of the next three years, while also increasing the economic output by more than $100 billion. These tax incentives can create so many jobs because labor accounts for half of the money spent on dark fiber network deployment. Once complete, increased broadband would then create an additional 360,000 jobs.
While the nation is in need of new jobs and a boost in the economy, the tax incentives will also help to improve the U.S. technological infrastructure, which currently lags far behind other developed nations. An improved broadband infrastructure will not only make the U.S. technologically competitive on a global scale, but will also help drive the U.S. economy throughout the 21st century.
In expanding America’s broadband infrastructure, it makes sense to encourage the higher-bandwidth networks we will need to compete globally in decades to come. Thanks to the Fiber to Home Council study, we now have evidence that states that promoting broadband networks will give the maximum boost to employment and immediate economic growth.
NEF designs solutions based on your needs and specifications using a variety of connectivity options. Creating custom dark fiber networks is one of the strategies NEF employs to bring you the best communications network at the most competitive price. Contact NEF today for more information.