New US Broadband Projects Get $795 Million In Funding

snydeq writes "The Obama administration has announced nearly $795 million in grants and loans to 66 new broadband projects across the nation. The subsidies — to be doled out by the US NTIA and the US Rural Utilities Service — will bring broadband service to 685,000 businesses, 900 health-care facilities, and 2,400 schools, according to officials. The NTIA will award $404 million to 29 projects, and the grants will finance 6,000 miles of new fiber-optic lines. Most of the money will finance middle-mile broadband network projects. The RUS will award $390.9 million, with $163 million in loans and the rest in grants. Most of the RUS money is focused on last-mile broadband projects."

Comments

So how much of this will the telcos steal?

[h4rr4r]

How much of this will end up in the pockets of a telco exec and leave us with nothing to show for it?

You know like every other time we have given these bastards a dime.