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    $16.25 Million New Markets Tax Credits Helps Deliver Internet to Alaska’s Remote & Underserved Native Communities

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    $16.25 Million New Markets Tax Credits Helps Deliver Internet to Alaska’s Remote & Underserved Native Communities

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TERRA Network – Aleutians

TERRA Network is a hybrid terrestrial fiber-optic & microwave network under development by General Communication Inc. (GCI). TERRA brings connectivity to some of Alaska’s most remote regions—delivering access to healthcare, education, and other critical public resources to more than 45,000 Native Alaskans.

Clearinghouse CDFI provided $16.25 million New Markets Tax Credits (NMTCs) to GCI for the Aleutian Islands development phase of TERRA Network. Wells Fargo Community Investment Holding, LLC was the project investor.

TERRA Network is 3,300 miles long—further than Seattle to Miami—and includes both overland and undersea fiber. This phase of TERRA Network development will extend the undersea fiber an additional 800 miles along the peninsula from Kodiak to Unalaska. It will serve an additional 45,000 Native Alaskans. Development will create 17 permanent jobs and 211 construction jobs paying salaries averaging 1.6 times the area living wage.

Download the PDF: Just Funded – TERRA Network – Aleutians

"Thanks to Clearinghouse CDFI, the educational benefits this project will bring to people living in the area is phenomenal. It truly bridges the digital divide, allowing schools to access Internet and community members to advance their careers through higher education and training courses."
- Jenifer Nelson, Sr. Manager Corporate Communications and Community Engagement, GCI
Financing Provided:
$16.25 Million New Markets Tax Credits
Location:
Kodiak, AK
Impact:
- 59,000 Native Alaskans Served
- 211 Construction Jobs Created
- 17 Permanent Jobs Created
Purpose:
800 Mile Undersea Extension to Existing 3,300 Mile Long Network
Year Funded:
2020
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