What Broadband Means for Economic Development

A robust broadband infrastructure is a compelling differentiator for economic development teams. Today’s business applications require high-speed connectivity including Internet access and services supported by a fiber network. As communities compete for these companies to locate facilities in their area, broadband infrastructure is a key consideration in the process.

High-speed internet access allows a community to attract and retain a talented labor pool within the area. A recent national study by Pew Research Center late last year found that roughly 80% of people seeking a job within the US are using online job search resources. Additionally, the same study showed that businesses that rely and/or heavily utilize internet access have growth rates of 1.5X to 2X compared to those that do not.

Digital workers are employees that work from home for themselves or a company and require services like high speed internet access and unified communications to carry out their jobs. They have a desire to live in an area that meets their quality of life while maintaining employment for a company that is located somewhere else. Broadband infrastructure is the key component for attracting and retaining these workers and the companies that employ them.

  • On average, a Digital Worker is college-educated, 49 years old, and earns an annual salary of $58,000 while working for a company with more than 100 employees. 75% of employees who work from home earn over $65,000 per year, putting them in the upper 80th percentile of all employees, home or office-based
  • 50% of the US workforce holds a job that is compatible with at least partial telework and approximately 20-25% of the workforce teleworks at some frequency.

The Importance of Broadband to Site Selection

Are you offering the types of broadband services that attract new companies and digital workers and drive economic development? Give us a call today; we’d love to discuss how we can help you.

Brandon Groteguth (812)-890-6695, brandon@roninpbr.com

Joey Broadway (870)-919-7064, joey@roninpbr.com