$267M loan will expand broadband service for Limestone

April 10, 2008 08:35 pm

— Washington, D.C. — U.S. Senator Richard Shelby, R-Ala., a member of the Senate Appropriations Committee, said in a press release this week that Open Range Communications would receive a $267 million loan from USDA Rural Development to provide broadband service to Limestone and 28 other counties in Alabama.
Residents in eligible counties will have access to broadband and other technologies to foster business development and create new jobs.
“Communities across America that do not have access to today’s high-speed internet technology simply cannot compete in the marketplace,” said Shelby. “To expand business development and create economic opportunity in rural Alabama, we must provide our communities with access to up-to-date technology infrastructure. This loan will offer our underserved communities cutting-edge technology at an affordable rate, increasing opportunities for Alabamians in rural areas.”
The project is intended to cover 518 rural communities in 17 states, which equates to serving more than 6 million people in more than 447,000 households within five years. In addition, it will create jobs and business opportunities in the project’s 17-state area, the press release said. Open Range is leveraging the $267 million government loan with an investment of more than $100 million from the private sector. The loan is contingent upon Open Range meeting the conditions of the loan agreement.