Comcast Signs Agreements with State of Indiana: Joint $55 Million Investment to Bring Fast Internet to 10,000+ Rural Homes, Businesses

Rhea-AI Summary

Comcast (CMCSA) has partnered with Indiana state offices to invest $55 million in bringing high-speed Internet access to over 10,000 rural homes and businesses across seven counties. The expansion follows Comcast's previous $500 million network investment in Indiana over the last three years. The project will serve unserved and underserved communities in Boone, Morgan, Shelby, Miami, Delaware, Fayette and Rush counties. Pre-construction work has already begun in several counties, with plans to offer comprehensive services including Xfinity Internet, Mobile, X1, and Home security solutions. The company currently operates over 49,000 miles of fiber-rich network infrastructure across Indiana.

Positive

• Joint $55 million investment to expand high-speed Internet access to 10,000+ rural locations
• $500 million network investment in Indiana over past three years
• Expansion of revenue opportunities in seven new counties
• 49,000 miles of existing fiber-rich network infrastructure in Indiana

Negative

• None.

Insights

Infrastructure Investment Analyst

This $55 million joint investment represents a strategic expansion of Comcast's rural broadband infrastructure, building on their substantial $500 million investment in Indiana over the past three years. The project targets 10,000+ underserved locations across seven counties, significantly expanding their serviceable market.

The partnership with state agencies and participation in the BEAD Program demonstrates a calculated approach to leverage public funding for infrastructure development. This expansion will create new revenue streams through multiple service offerings including internet, mobile, TV and security services. The focus on rural areas positions Comcast to capture untapped markets while fulfilling regulatory requirements and social responsibilities.

The investment strengthens Comcast's competitive position in Indiana, where they already maintain 49,000 miles of fiber infrastructure. This expansion aligns with their broader $20 billion national infrastructure investment strategy, potentially leading to increased market share and recurring revenue growth in previously underserved regions.

Expansion follows Comcast's $500-million network investment in Indiana over last three years

INDIANAPOLIS, Nov. 13, 2024 /PRNewswire/ -- Together with the Indiana Broadband Office (IBO) and the Indiana Office of Community & Rural Affairs (OCRA), Comcast is building reliable, high-speed Internet access to unserved and underserved communities in Indiana.

The joint $55 million investment will kick off the latest collaborative effort between OCRA, the IBO, and Comcast under Indiana's Next Level Connections broadband grant program. 

"Our goal is to ensure that every Indiana resident has access to high-speed, reliable, affordable broadband access," Indiana Lt. Governor Suzanne Crouch said. "Connecting every corner of Indiana will require policymakers, community leaders, and service providers to work together to close the digital divide—with this joint investment, Comcast has committed to helping us make that happen."

The joint investment will enable Comcast to build Internet to rural, unserved and underserved portions of Boone, Morgan, Shelby, Miami, Delaware, Fayette and Rush counties, empowering each community to meet the growing connectivity needs of their residents and businesses.

"The collaborative efforts between the IBO, OCRA and Comcast will not only empower residents and supercharge businesses, but will literally connect them to a better quality of life," said Steve Cox, Indiana's Chief Broadband Officer. "This partnership represents years of effort to connect thousands of Hoosiers to tomorrow's digital world—the progress we've made wouldn't be possible without providers like Comcast continuing to invest in Indiana."

Over the past three years alone, Comcast has invested more than $500 million to increase Internet speeds, deliver reliable WiFi throughout customers' homes and businesses, and to bridge the digital divide in rural Indiana.

"Ensuring all Hoosiers have access to the fastest, most reliable Internet available continues to be a top priority for Comcast," said Joni Hart, vice president of Government Affairs for Comcast Indiana. "For the first time, residents and businesses in unserved and underserved communities will be able to wield the full power of the Internet. With this investment, the partnership between IBO, OCRA and Comcast continues to be life changing."

Comcast plans to continue bringing its next-generation network to more unserved and underserved communities in Indiana through private funding and state and local partnerships, including participating in the Broadband Equity, Access, and Deployment (BEAD) Program.

Pre-construction work has kicked off in Miami, Fayette, Rush and Morgan counties. Preparations continue in Boone, Shelby and Delaware counties.

Incoming Services

With each build, residential customers will be able to take advantage of Xfinity's full suite of services, enabling them to access e-learning, utilize telehealth capabilities, stream movies and shows, game with friends, and watch live sports—in real time.

Incoming services include:

• Xfinity Internet—powered by the fastest, largest, and most reliable network in the county, delivering 99.9% reliability scores, year after year.
• Xfinity Mobile, which carries a variety of new mobile phone models, devices and accessories and offers flexible data plans—Unlimited or By the Gig—that fit customers' unique needs.
• Xfinity X1, which offers live TV, sports, music, and streaming apps. can be controlled using Xfinity's award-winning Voice Remote. Through Xfinity StreamSaver, customers can bundle Peacock, Netflix and Apple TV+ and save money.
• Xfinity Home, the company's home security and automation solution.

Hoosier households will also have access to the company's Internet Essentials program, a low-cost Internet service available to eligible families who qualify for a variety of public assistance programs. The program has helped more than 750,000 Indiana residents get online since its launch in 2011.

For local businesses, Comcast Business offers a suite of connectivity, communications, networking, cybersecurity, and managed solutions to help organizations of all sizes achieve their business goals. Industry analysts have consistently recognized Comcast Business as a leader and innovator in flexible, scalable options as well as one of the fastest-growing providers of Ethernet services. 

Statewide Investment

Comcast currently operates more than 49,000 miles of fiber-rich network infrastructure across Indiana, offering symmetrical, high-speed Internet to residential and business and more than 65,000 WiFi hotspots across the state.

Overall, Comcast has invested more than $20 billion in the last five years to grow and evolve its expansive fiber-rich network across the company's service footprint nationwide, including more than $500 million the company has invested in its network in Indiana over the last three years.

To learn more about Xfinity services, visit www.xfinity.com or call 1-800-Xfinity. To learn more about Comcast Business services, visit www.business.comcast.com or call 866-429-3085.

About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

About Comcast Indiana
With more than 1,100 local employees, Comcast Indiana (https://indiana.comcast.com/) has served customers in Indiana for more than four decades. In the last three years, we've invested more than $1.3 billion in Indiana, including capital expenditures, employee wages and benefits, taxes, charitable giving, and infrastructure upgrades. "Like" Comcast Indiana on Facebook by visiting @Comcast. "Follow" Comcast Indiana on X at @ComcastIN.

Press Contacts 
Amy Pietzak 
248-318-8906
amy_pietzak@comcast.com  

Samantha VanHoef
734-478-7118
samantha_vanhoef@comcast.com 

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SOURCE Comcast

FAQ

How much is Comcast (CMCSA) investing in rural Indiana broadband expansion?

Comcast is making a joint $55 million investment with Indiana state offices to bring high-speed Internet to over 10,000 rural homes and businesses across seven counties.

Which Indiana counties will benefit from Comcast's (CMCSA) latest broadband expansion?

The expansion will serve Boone, Morgan, Shelby, Miami, Delaware, Fayette and Rush counties in Indiana.

How much has Comcast (CMCSA) invested in Indiana's network infrastructure over the past three years?

Comcast has invested more than $500 million in Indiana's network infrastructure over the past three years.

What services will Comcast (CMCSA) offer in the new Indiana rural expansion areas?

Comcast will offer Xfinity Internet, Xfinity Mobile, Xfinity X1 entertainment, and Xfinity Home security services in the new expansion areas.