Stimulus Funding Applications Demonstrate Zayo’s Commitment to Delivering Affordable Broadband Services
LOUISVILLE, Colo. – August 28, 2009 – Zayo Bandwidth, a regional provider of fiber-based bandwidth solutions for carrier, enterprise and government customers, announced today it is seeking $25 million in direct federal stimulus funding to extend its fiber-based network infrastructure to 80 rural communities and 21 higher education institutions in certain Midwest markets. Zayo Bandwidth will provide “middle-mile” broadband and transport services for these projects.
Zayo also collaborated with partners to apply for $50M in funding for broadband development/expansion projects in other markets.
“In early 2009, Zayo dedicated a team of personnel to leverage the Company’s dense fiber assets in rural markets for the deployment of broadband availability to underserved communities and public good institutions,” said Christopher Morley, CFO of Zayo Bandwidth. “Zayo’s contribution of $10-15 million of its own funds demonstrates the company’s commitment to delivering these services to those who have traditionally had limited or no access to affordable broadband.”
Zayo’s network assets in Tier 3 to Tier 5 markets provide “middle-mile”, high capacity transport services to core broadband on-ramps generally located in metro markets. Access to this capacity is a critical factor in increasing broadband availability and options and enabling cost-effective broadband solutions for end-users.
Zayo will continue developing partnerships to apply for stimulus funding during the second and third rounds of the stimulus programs running into late 2010.