Vexus Fiber plans to continue its expansion in the Lone Star state, bringing its fiber-to-the-home network to the Rio Grande Valley area.
Today’s announcement follows similar plans for expansion to Tyler, Tex. and to Wichita Falls, Tex. Vexus Fiber currently operates fiber-to-the-home networks in Lubbock, Amarillo, Wichita Falls, Abilene and surrounding areas in Texas, along with Hammond, Covington and Mandeville areas in Louisiana.
Construction in the Rio Grande Valley area is expected to start by the end of the year. When the three-year project is completed, nearly 175,000 homes and businesses in Mission, McAllen, Edinburg, Harlingen and surrounding areas will be passed by the company’s fiber network.
The company plans to invest about $200 million in the project, which is expected to bring close to 200 construction jobs and 150 permanent jobs to the region. The project will be financed through Vexus investors Pamlico Capital and Oak Hill Capital.
“Residents of the Rio Grande Valley will now have a new, competitive choice for internet, TV and phone services. Our network will be built with future-proof technology that will not only provide homes and businesses with multi-gigabit speeds but will also foster growth and economic development for the Rio Grande Valley region,” said Jim Gleason, CEO of Vexus, in a prepared statement about the Vexus fiber expansion. “Demands on bandwidth are high in homes today. Activities such as working from home, online learning and multiple video streams mean residents need a network that delivers lightning-fast upload and download speeds. Vexus plans to bring both multi-gigabit speeds and great Texas-based customer service to the region.”
Gleason added: “We believe economic growth and prosperity are directly tied to a community’s ability to reach gigacity status.
“Vexus Fiber continues to execute on the macro theme of providing alternatives to cities in Texas for high-speed internet,” said Scott Baker of Oak Hill Capital, in a prepared statement. “With Vexus, residents can now enjoy high-tech internet with the same reliability and speed enjoyed by those in large metro areas.”