Could Universal Broadband Add $500 Billion to the GDP?

The broadcast TV spectrum turns out to be just about the sweetest, most desirable electronic real estate there is. That’s why it was chosen in the 1930s and 1940s for television. Its transmissions travel farther and penetrate buildings better than almost any other usable portion of the electromagnetic spectrum. If these bands were employed for wireless net access, that could make the U.S. much more digitally competitive with the rest of the world. Boosting true broadband access will help increase online spending and make the economy grow faster. According to data compiled by the Pew Internet & American Life Project, 59% of broadband users bank online, compared to only 35% of those who use a dial-up telephone line to access the Internet. Broadband users also consume more news, buy more products, and play more games online. And they read more blogs and download more music. Last week, a group called the High Tech DTV Coalition wrote a letter to the ranking members of the Commerce Committee, urging a rapid transition and estimating that universal broadband in the U.S. could create 1.2 million additional jobs and ultimately add $500 billion annually to the GDP. It was signed by many of the tech industry’s top leaders, including Intel CEO Craig Barrett, Cisco CEO John Chambers, Microsoft Chairman Bill Gates, and Dell CEO Kevin Rollins.
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