Leveraging Financial Impacts Data from Tens of Thousands of American Businesses, SNG Can Show Regions the Power of Programs that Look “Beyond Availability” and Drive Internet Utilization
Strategic Networks Group (SNG) today announced an innovative model for estimating economic impacts generated from increasing businesses’ meaningful use of Internet applications.
The model was developed because broadband’s economic impact is shown to be marginal without meaningful use by businesses. Furthermore, SNG’s research shows the majority of businesses are underutilizing Internet applications – foregoing growth opportunities. The smaller the business (90% of US businesses are classified as small businesses), the less they’re using broadband’s applications. The opportunity cost to communities and regions are unrealized economic benefits.
SNG’s new Broadband Economic Impact Model estimates the potential economic growth from increased broadband use. The model uses quantitative analysis to reveal the potential economic impacts from broadband for your region based on a variety of broadband utilization scenarios. Powering this model is SNG’s extensive research from tens of thousands of businesses that have reported Internet utilization and accompanying financial impacts.
“As states and municipalities focus on ensuring the necessary broadband infrastructure to create and foster economic growth, more and more regions have come to us wondering how to ensure broadband’s benefits are realized,” explained Michael Curri, president of SNG. “The Broadband Economic Impact Model actually projects what meaningful use of broadband can mean for job creation, business growth, and increased tax revenues.”
For those who want to look beyond a laissez-faire approach to economic development through broadband, the model empowers regions and states to develop strategies to drive meaningful use and proactively create growth.
To see what the Broadband Economic Impact Model reveals about the economic growth potential meaningful use has in your region visit: www.sngroup.com/impacts.
US Federal POWER Initiative Funds to be Used to help Businesses and Displaced Coal Workers in Alabama, Mississippi, and Tennessee
Superior, CO – Today, SNG and Shoals Entrepreneurial Center in Alabama announced that the Shoals Shift program will include SNG’s broadband benchmarking, business assistance, and workforce training programs. All of these efforts are focused on capitalizing on opportunities available through the Internet and its applications.
The Shoals Entrepreneurial Center received $997,000 in matching funds from the Appalachian Regional Commission’s POWER Initiative (Partnerships for Opportunity and Workforce and Economic Revitalization) to fund Shoals Shift. POWER is a federal program put in place to assist Appalachian communities with funding to assist coal communities transition to a new economy by ”cultivating economic diversity, enhancing job training and re-employment opportunities, creating jobs in existing or new industries, and attracting new sources of investment.”
Shoals Shift will utilize SNG’s comprehensive and industry-leading eSolutions Benchmarking to help develop digital strategies for the region. Also included in this three-year partnership will be the Small Business Growth Program, a program that shows businesses the economic impacts that inspire greater Internet application utilization, grow businesses, and create job opportunities.
Giles McDaniel, Executive Director of the Shoals Entrepreneurial Center explained that the grant will help accelerate the growth of a digital economy, “We plan to implement three interconnected strategies; 1) building an innovation discovery pipeline, 2) cultivating a culture of collaboration and entrepreneurship, and 3) strengthening existing businesses.”
“SNG’s programs are specifically designed to help businesses grow and create job opportunities,” explains Michael Curri, president of SNG. “We’re thrilled to be an integral part of helping the Shoals region transition to a digital economy.”
About Strategic Networks Group (SNG)
Focused on economic advancement through broadband utilization, SNG is a group of broadband economists who develop strategies for most effectively leveraging broadband investments. SNG addresses broadband utilization from the individual organization level all the way up to working with more than 10 ten states across the United States. SNG looks to help make the most broad-reaching and transformational impacts that broadband can bring to enable businesses, communities and regions by delivering the data and analysis decision makers need to maximize broadband’s potential. Learn more about SNG at www.sngroup.com.
About The Shoals Entrepreneurial Center
The Shoals Entrepreneurial Center (SEC) is a business incubator located in northwest Alabama. Business incubation is a proven tool for regional economic growth. Our business model has a 90% success rate. The Center supports start-up and emerging companies to help them successfully launch and grow. We offer a cluster of commercial space, technical assistance, and a wide-ranging network of partners to provide a critical framework to help entrepreneurs meet their business goals.