Blog // Connect South Carolina

Examining Broadband’s Economic Impact

By Wil Payton

Does broadband get the attention due considering its impact on the economy? A recently released Connect Minnesota report noted that broadband-connected businesses in Minnesota bring in $200,000 more in media annual revenues.

A Connect Michigan study reported that Broadband-connected Michigan businesses with fewer than 20 employees report median annual revenues of approximately $300,000, compared to just $100,000 among similarly sized competitors that do not use broadband

From a more global perspective consider the following excerpt from a CNBC guest blog written by Stephen Alexander, CTO, Senior VP, Products and Technology at Ciena Corporation:

The Internet has become an important resource with real economic impact: every 10 percent increase in broadband penetration within a country drives a 1.3 percent additional growth in the Gross Domestic Product (GDP), according to a recent UNESCO/ITU Broadband Commission report. 

While access to Internet connections has grown dramatically, it has been outpaced by advancement of applications including more rich content, video, voice and other features that demand a high-speed connection that require broadband speeds, making broadband access critical. 

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