|TWO SOUTH DAKOTA COMPANIES RECEIVE ARRA BROADBAND FUNDING|
|, Aug 24, 2010
Outline Of Need: "Investing in our broadband infrastructure not only creates jobs, it invests in the economy of South Dakota. By bringing broadband service to these communities, most of which currently have little or no access, to help them better compete and do business in the global marketplace," added Representative Herseth Sandlin.
“These two companies have stepped up to ensure the residents in their service area have broadband service that is second to none. These investments will lay the foundation for economic development in rural South Dakota for years to come,” said USDA Rural Utilities Service Administrator Jonathan Adelstein.
How Rural Development Helped: The awarding of more than $17.5 million to two South Dakota companies, Venture Communications Cooperative based in Highmore, SD and TrioTel Communications, Inc. based in Salem, SD, for broadband infrastructure improvements and service expansion.
The Results: Venture Communications Cooperative received a $2,614,956 grant and $2,614,957 loan, along with outside capital totaling $1,743,305 for the Cresbard, Orient and Faulkton exchanges. The funding will provide broadband services to households, businesses, and key community organizations that are currently underserved. This project will provide needed broadband services and create the potential for increased business growth, public safety services and quality of life for the residents in the Cresbard, Faulkton and Orient exchanges with SD. Seventy-six jobs are expected to be created and/or retained with this project.
TrioTel Communications, Inc. received a $8,643,163 grant and $3,704,212 loan for the TrioTel Fiber-to-the-Home Broadband Deployment project. The funding will provide high speed internet service in the communities of Canova, Alexandria, Emery, Farmer, Salem, and Spencer, SD and their surrounding rural areas via a fiber-to-the-home network. This network will provide service to 1,654 households and 985 businesses in the area. Fifteen jobs are expected to be created and/or retained.
“Investing in broadband is critical for evolvement of economic opportunities and job growth in rural areas,” said South Dakota Rural Development State Director Elsie M. Meeks. “Broadband brings communities into the digital age and allows them opportunities once only known to urban areas. These funds will bring high speed internet to the area which will help businesses, community leaders, education, safety, and public health centers expand services.”