Cision PR Newswire
Magellan Assists in Securing $1.8M in Grants for City of Waterloo, Iowa, Broadband Project
News provided byMagellan
Oct 07, 2022, 10:21 AM ET
DENVER, Oct. 7, 2022 /PRNewswire/ -- Magellan, the premier developer of next-generation broadband networks for utilities, co-ops and municipalities, has helped the City of Waterloo, Iowa, secure $1.8M for its broadband expansion into targeted business corridors and industrial parks.
The project funding will come from an award by the Department of Commerce's Economic Development Administration (EDA) under the American Rescue Plan. Construction of the fiber network will support business growth, telemedicine and virtual education. The EDA funding will be matched with $667,682 in local funds and is expected to create more than 170 jobs.
"Magellan has worked side by side with us through all phases of this project, including taking the lead on the project's design, and in support of the grant application process," says Waterloo Mayor Quentin Hart. "Their history of success in planning, designing and building broadband networks has given us the assurance this project will result in a quality, resilient and futureproof network that will grow with our community."
"Waterloo has seen the need for broadband access and has worked diligently to align the resources needed to accomplish this achievement. We applaud their success and look forward to working with them throughout the construction and implementation process," says Magellan President and CEO John Honker.
This grant follows similar EDA awards of $2.8 million in funding for the City of Paso Robles, CA to expand its fiber network to the business community, in which Magellan played a significant role, as well as the City of Ann Arbor, MI, which is currently deploying its fiber backbone, with Magellan functioning as its owner's rep and project engineer.
"Magellan is honored to have helped secure over $1 billion in funding across many federal and state agencies for broadband investment," adds Honker. "We remain committed to our utility, co-op and municipal clients to keep them at the forefront of funding opportunities"
Waterloo, Iowa is a regional hub for employment, healthcare, retail and education. Our growing economy is built on agricultural development, engineering and advanced manufacturing; a legacy of entrepreneurs, inventors and skilled craftsmen; and a new generation of visionaries who continue to shape our future. With a highly diverse population of approximately 70,000 people, Waterloo is Iowa's Renaissance City, drawing investment and individuals looking to grow and prosper in a community of opportunity.
Magellan provides planning, engineering, implementation and management of the fastest, most technologically advanced fiber and broadband networks. Our mission is to connect every community, one at a time, to the digital economy so that no one is left behind. Our work ensures communities can access every opportunity the internet has to offer so they can thrive in the connected world. Learn more at www.magellanbroadband.com.
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