Lexington Mayor Jim Gray recently announced that the City has secured significant new fiber broadband investment and will soon be one of the country’s largest gigabit cities—with the potential for even faster speeds in the future. Over the past couple of years, CTC has been honored to work with Lexington on this effort—undertaking tasks from design engineering to financial modeling to discussions with potential investors—and we are thrilled to see the City’s vision and work pay off.
The City is on track to finalize a new cable franchise agreement with MetroNet, an Indiana-based cable and internet provider. MetroNet has agreed to spend between $70 and $100 million building a new fiber-to-the-premises network in Lexington.
Significantly, the agreement includes a robust build-out provision, ensuring that no part of the Lexington community is left out of the gigabit era. MetroNet has agreed to build out to 70 percent of the City in the first four years, with the remaining 30 percent to be added as the company achieves certain subscriber benchmarks. This outstanding agreement is testament to the City’s commitment to digital equity and to MetroNet’s willingness to bring fiber to everyone, rather than exclusively to the neighborhoods that offer the highest return on investment.
Mayor Gray’s announcement is also testament to the citizens of Lexington, who had clearly communicated to their elected officials their desire for better broadband services and more competition. Once MetroNet’s network is built, Lexington’s residents and businesses will enjoy more choice and dramatically better services, all offered over a robust fiber-to-the-premises infrastructure.
Our team here at CTC is proud to have worked with the City on this effort, and we see this successful outcome as a demonstration of how collaboration between the public and private sectors can lead to a better broadband future.
Our congratulations to Mayor Gray—and to his spectacular City team, led by Chief Innovation Officer Scott Shapiro and Chief Information Officer Aldona Valicenti.
December 5, 2017