Any community considering taking its broadband future into its own hands needs to understand and quantify the financial benefits such an investment would require – and if cost savings alone actually help a community pay for a network.
SNG’s Economic Feasibility Assessment provides analysis and insights into the cost benefits as well as the flow-through economic impacts from enhanced business growth enabled by broadband. Municipalities that will benefit from the Economic Feasibility Assessment will be those that;
- Recognize that their current state of broadband quality, availability, or affordability is not meeting their needs.
- Understand that improving the current state of broadband is essential to the continued well-being and economic growth of their community.
- Are ready to take action and ownership of their broadband future, including the possibility of building municipal broadband infrastructure.
Specifically, a Economic Feasibility Assessment will include:
- Quantify local broadband benefits* (immediate and long term) based on local broadband demand ( active, latent, and potential) to make an economic case for broadband investments. This includes:
- Cost reduction financing – how existing budgets (municipal, county, regional, school district, etc.) can be restructured to finance better broadband.
- Local economic growth through broadband – local economic impacts that make a case for public investment in broadband including… 1) a solidified and increased local GDP and tax base; 3) new higher paying jobs; and 3) household subscription cost savings – money that can be redirected into the local economy
- Assessment of the economic return on investment for investing in broadband using the quantified immediate and potential benefits to the community and whether the community benefits outweigh expected network costs.
*Impacts measured by SNG’s Economic Feasibility Assessment include broadband as a location criteria as well as better brroadbans as a driver of business growth and retention.
You can see how the Economic Feasibility Assessment works with our Ammon, Idaho report.