Magellan Advisors Secures Another $15 Million in Broadband Grants for its Municipal Clients
Thursday, December 9, 2021
DENVER, Dec. 1, 2021 /PRNewswire/ -- Magellan Advisors (Magellan), a leader in providing turnkey services for building fiber and broadband infrastructure, has demonstrated more successful grant procurement efforts, securing $15M for communities across the country to build out their fiber-optic networks. The funding paves the way for cities, municipalities and utilities to provide much-needed broadband services to their citizens.
Two of the fiber broadband projects have been funded under the Coronavirus Aid, (CARES) Act.Two of the projects have been funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided the Department of Commerce's Economic Development Administration (EDA) with $1.5 billion for economic assistance programs to help communities prevent, prepare for and respond to the impact of the COVID-19 pandemic.
Magellan recently assisted Ann Arbor SPARK secure a $2.4 million award in CARES Act Recovery Assistance to build 20 miles of underground fiber-optic cable in Ann Arbor and Ypsilanti, Michigan, through local business corridors. The grant is expected to create 67 jobs and generate more than $35 million in private investment. This additional access to high-speed broadband internet is expected to attract more economic development.
In a second CARES project, Magellan supported The Goodman Corporation in writing the grant for the City of Paso Robles, California, to secure $2.8 million in EDA funds. The city will install about 11,500 feet of new fiber-optic cable in its existing underground conduit and 52,500 feet of additional fiber-optic cable in new underground conduit. The construction project is expected to create 90 new jobs and will increase internet reliability in the city's downtown corridor.
Through funding available via the U.S. Department of Housing and Urban Development (HUD), Magellan also has been able to help secure $9 million in grants for the Deep East Texas Council of Governments (DETCOG) for its North Newton County broadband project. The project will provide region wide fiber broadband and wireless service to some of Newton County's most rural residents. Magellan will provide engineering services for the project, and Traylor & Associates, which Magellan supported in the grant writing, will manage the funding.
"We know without Magellan's endless expert guidance on broadband, which included extensive preliminary modeling and mapping, we wouldn't have been able to successfully compete for the funding secured by DETCOG.", says Traylor & Associates Chief Executive Officer Gary Traylor.
"The pandemic brought to the forefront the increased need for communities to have the reliability of fiber broadband for their businesses and their residents," says Magellan Chief Executive Officer John Honker. "Magellan is honored to have helped develop these important opportunities for these communities. Funding remains available for projects like these, and our extensive experience in grant procurement can provide communities with the money to improve and build out their fiber broadband infrastructure. We look forward to helping more cities, municipalities and utilities have similar success."
About Magellan Advisors
Magellan Advisors provides planning, engineering, funding and management of the fastest, most technologically advanced fiber and broadband networks. Our mission is to connect every community to the digital economy so that no one is left behind. We deliver practical broadband solutions that municipalities, utilities and providers can achieve in their communities. Through Magellan, more than $1 billion in new broadband investments has connected more than 1 million homes with gigabit broadband and connected more than 1,000 schools, hospitals, libraries and governments. Learn more at www.magellan-advisors.com.
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SOURCE Magellan Advisors
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