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NTIA Announces $42.45 Billion for High-Speed Internet Grants Through BEAD Program

As a key part of President Biden’s “Investing in America” plan, the “Internet for All” initiative has been allocated $42.45 billion for high-speed internet. The National Telecommunications and Information Administration (NTIA) recently announced allocated funding to all 50 states, including the District of Columbia and five territories.

Broadband Equity, Access, and Deployment (BEAD) will be utilized in broadband network improvements and expansion. The main goal being universal high-speed broadband access by 2030. After expansion and upgrade goals are met, remaining BEAD funding can be used on access, adoption and equity-related issues deemed eligible.

States, D.C. and territories will handle grant programs within their borders based on allocated funding. Allocations were announced on June 26, 2023. Spending based on the Federal Communications Commission coverage map. Infrastructure projects like BEAD are a tremendous step in validating the importance of rural broadband networks.

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With an influx of resources being allocated to rural broadband networks, it’s more important than ever to discuss your risk management plan with a UNITEL Advisor. Your UNITEL Advisor will work with you, and your business, to tailor your coverage to encompass new projects, employees and equipment.

For more information on state, D.C., and territory allocations, see the official NTIA press release.