Government Agencies Make Funding and Investing in Broadband Infrastructure Easier for Communities in Need

[Commentary] Schools, hospitals, libraries, and emergency services all have a few things in common — they are vital as anchors within a community and depend on high-speed Internet access to provide their services. Unfortunately, many low or moderate-income areas lack the broadband access that could help them revitalize their neighborhoods and be competitive in the digital age.

Households in the US making $25,000 or less have a broadband adoption rate of 47 percent, while those making more than $100,000 have an adoption rate of 92 percent. The Federal Reserve Bank of Dallas recently released a report on the importance of broadband access for community development. The report identifies how broadband can be transformative for a community in many ways. Digital skills are increasingly important in the workforce, students need the Internet to do research and complete their homework, access to financial services are more readily available with online banking, and telemedicine improves the health of people who otherwise wouldn’t have access to healthcare. Broadband also is increasingly essential for small businesses who can find resources online along with tools to modernize everything from payroll to marketing. Knowing how important broadband can be for communities, we’re excited to hear that the Federal Financial Institutions Examination Council (FFIEC) has redefined the guidelines for the Community Reinvestment Act (CRA) that will allow for loans towards broadband investments that can help bridge the digital divide. These new CRA guidelines will expand financing for the construction, expansion, improvement, maintenance or operation of essential infrastructure that help revitalize and modernize communities.

[FTTH Council is a non-profit association of companies and organizations involved in fiber to the home]