Kinetic Secures $156 Million BEAD Grants for Fiber Network Expansion
Kinetic Expands Fiber Broadband through BEAD Grants
Kinetic, a prominent provider of fiber internet for both residents and businesses, has made a significant leap forward in expanding fiber broadband access. Recent announcements reveal that the company has been provisionally approved for federal Broadband Equity Access and Deployment (BEAD) program grants, amounting to $156.6 million. This initiative aims to bring multi-gigabit fiber connections to about 52,000 rural homes and businesses across four states, with a substantial focus on providing nearly 50,000 connections in Georgia alone.
Details of the Grant Awards
The BEAD grant awards have been provisionally approved by state authorities but await final endorsement from the National Telecommunications and Information Administration, which operates under the U.S. Commerce Department. The state allocations are as follows:
Statewise Grant Distribution
Georgia is set to receive the lion's share of $147.3 million dedicated to 49,346 locations. Additional grants include $5 million for 1,395 locations in Arkansas, $2 million for 280 locations in New Mexico, and $2.3 million for 943 locations in North Carolina.
Partnerships Fueling Expansion
Jeff Small, the executive vice president and chief network officer at Kinetic, expressed pride in the partnerships with various state broadband offices that are fundamental to expanding their 100% fiber network. He emphasized the company's gratitude for the ongoing collaboration with Georgia, which reflects their commitment to building fiber infrastructure to over 170,000 homes and businesses in the region through public-private partnerships.
Impact of Public-Private Partnerships
The collaboration between public entities and Kinetic has facilitated fiber expansion to underserved areas that would otherwise remain unserved due to economic challenges. The success experienced in Georgia is attributed to the effective design of state broadband programs aligned with Kinetic's extensive existing fiber network and advanced engineering capabilities.
Accelerating Fiber Deployment
As part of its ongoing strategy, Kinetic has been executing a large-scale network modernization project, valued in the billions, aimed at broadening fiber broadband services across its 18-state operational territory. Presently, Kinetic's fiber network passes more than 1.7 million homes, while additional infrastructure supports an extra 2.1 million locations through neighborhood network nodes. The company anticipates extending fiber internet service to over 3.5 million homes by the year 2029.
Growth Following Merger
With the recent merger between Windstream and Uniti Group, Inc. now completed, Kinetic is poised to amplify its fiber broadband construction plans. Small stated that extending fiber to 3.5 million locations would cover approximately 75 percent of Kinetic's operational footprint. He highlighted the company's ambition to push further beyond this target by exploring territories adjacent to the newly consolidated Uniti Fiber network.
About Kinetic
Kinetic, a division of Uniti (NASDAQ: UNIT), stands out as an insurgent provider of multi-gigabit fiber internet, complete home Wi-Fi solutions, internet security, and voice services. Their extensive reach spans 1,400 markets across 18 states in the Southwestern, Southeastern, Midwestern, and Northeastern U.S. For more information about Kinetic and its fiber services, interested parties can visit gokinetic.com.
Frequently Asked Questions
1. What are the total funds Kinetic received in BEAD grants?
Kinetic received a total of $156.6 million in BEAD grants to enhance fiber broadband access.
2. How many rural homes and businesses will benefit from these grants?
Approximately 52,000 rural homes and businesses will gain access to fiber connections through this initiative.
3. Which states are receiving funding from Kinetic's BEAD grants?
The BEAD grants will benefit Georgia, Arkansas, New Mexico, and North Carolina.
4. How is Kinetic expanding its fiber network?
Kinetic is expanding its fiber network through public-private partnerships and a multi-billion-dollar modernization project.
5. What is the long-term goal for Kinetic's fiber deployment?
Kinetic aims to provide 100% fiber internet service to over 3.5 million homes by 2029.
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