Today, President Barack Obama announced funding for increased broadband deployment.

The $795 million in grants and loans will fund 66 projects to improve high speed Internet access. This funding will provide better access to broadband for those living in rural or underserved areas of the country.

A $7.4 million grant, coupled with $1 million in outside capital is going to Shawnee Telephone Company right here in Illinois for their fiber-to-the-home project.

These grants will help connect many communities that don’t currently have access to high-speed Internet, but the cost of 100% broadband penetration is estimated at $350 billion. So while public funding toward broadband initiatives is a step in the right direction, policies should also focus on encouraging private sector investment necessary to build out our country’s broadband infrastructure.

A recent CNN article quoted a statement from the White House:

“In total, tens of millions of Americans and over 685,000 businesses, 900 health care facilities and 2,400 schools in all fifty states stand to benefit from the awards.”

The White House also reports that the new projects will lead to the creation of 5,000 jobs and will bring $200 million in related investments.

These funds will also contribute to the funding of new technology facilities in libraries and colleges across the country.

While this is a positive step forward, broadband penetration will come from a strong public-private partnership.

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