A recent study conducted by Frontier in collaboration with the Fiber Broadband Association and the Brattle Group, published on November 25, 2024, estimates that deploying fiber broadband across the United States could generate an impressive $3.24 trillion in economic impact. This projection underscores the urgent need for expanding fiber access, as approximately 62 million broadband serviceable locations, including 56 million households, currently lack fiber connectivity [cd5a376e].
The report outlines several key benefits of fiber deployment, including an estimated increase in housing values by $1.64 trillion in net present value (NPV). Home values could rise between $27,000 and $41,000 on average, particularly benefiting non-urban areas, which are expected to see a $1.4 trillion increase in home values [cd5a376e]. Additionally, households currently unserved by fiber could experience a one-time income increase of $1.6 trillion, further emphasizing the economic advantages of improved broadband access [cd5a376e].
Moreover, the fiber expansion is projected to create around 380,000 new jobs, highlighting the critical role that high-speed internet plays in economic development and job creation [cd5a376e]. Frontier's recent efforts have already seen the addition of 381,000 fiber passings, bringing their total to 7.6 million, as they continue to invest in expanding their fiber network [cd5a376e].
Nick Jeffery, CEO of Frontier, emphasized the importance of fiber for digital infrastructure, while Gary Bolton, CEO of the Fiber Broadband Association, urged for prioritization of fiber funding in government programs. These calls for action align with broader initiatives, such as the Broadband Equity, Access, and Deployment (BEAD) program, which aims to enhance broadband infrastructure across the nation [cd5a376e].
The Biden administration's commitment to connecting every household in America by 2030, along with over $100 billion allocated for broadband expansion, reflects a growing recognition of the importance of high-speed internet in driving economic growth and reducing disparities [cd5a376e]. As communities work towards bridging the digital divide, the economic impact of universal fiber access could reshape the landscape of American connectivity and prosperity, making it essential for stakeholders to prioritize investments in broadband infrastructure [cd5a376e].