US President Joe Biden is set to lay out a plan of action on Monday (26 June) for a $42bn investment which aims to give everyone in the country high-speed internet by 2030. The investment will be split across all 50 states.

Jeff Zients, White House chief of staff, said: “We have an historic opportunity here to make a real difference in people’s lives and making sure that we deliver on that potential is what we’re about every day and to make sure that people feel that at their kitchen table, in their communities, in their backyards.”

The investment comes as US broadband companies like Verizon have pushed back against providing its services to poorer areas citing operational costs. 

According to the US government, there are 8.5m different locations across the country that are suffering with limited access to the internet. 

Zients likened the multi-billion dollar investment to the landmark effort of President Frank Roosevelt made to provide electricity in rural areas in 1936. 

“Just like Franklin Delano Roosevelt delivered electricity to every home in America through his Rural Electrification Act, the announcement is part of President Biden’s broader effort to deliver investments, jobs, and opportunities directly to working and middle-class families across the country,” Zients said in a statement.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The funding, from the Broadband Equity Access and Deployment Program, will be split up between states based on findings from a Federal Communications Commission coverage map, according to Reuters

The White House said it will take around two years for 80% of the money to be allocated.

GlobalData is the parent company of Verdict and its sister publications.