INDIANAPOLIS - June 22, 2022 - (Newswire.com)
Hoosier Net, LLC, a consortium of internet service providers, announces today that it has received investment from Accord Telecommunications Collaborative, LLC, a group composed of 21 Rural Electric Membership Cooperatives (REMCs) and telephone cooperatives. This will make Hoosier Net the first statewide network composed of both telephone companies and electric cooperatives. The investment comes at a critical time for Hoosier Net, as federal and state authorities prepare to distribute billions of dollars in broadband grant funds under the Infrastructure Investment and Jobs Act's Broadband Equity, Access, and Deployment (BEAD) Program.
"Closing the digital divide is vital to the future of rural America. Hundreds of electric cooperatives across the nation are working to bring quality broadband service to their members and the communities they serve. We're glad to see Hoosier Net and Indiana's electric cooperatives collaborate to bring high-speed internet service to unserved and underserved families and businesses in Indiana," said Paul M. Breakman, Vice President, Cooperative Business Solutions, Business & Technology Strategies, National Rural Electric Cooperative Association.
Hoosier Net will be able to leverage integrated and complementary assets due to Accord's investment and partnership to achieve statewide scale and facilitate broadband deployment in rural areas. "Accord's investment in Hoosier Net is another step toward accomplishing our shared vision of making Indiana the most connected state. We and our Hoosier Net partners form an unprecedented mix of electric cooperatives and telephone companies. Together we are seeking win-win opportunities that will ultimately benefit all Hoosiers, and that is what makes us excited about this investment," said James Tanneberger, Accord Chairman and President and Chief Executive Officer of South-Central Indiana REMC.
"We have a once-in-a-generation opportunity to achieving broadband access for all Americans, regardless of where they live and the leadership and creative partnership led by Hoosier Net and its member companies will be a key part of finding the scope and scale to provide connectivity to communities and businesses in Indiana. I am thrilled to see this crucial investment in Hoosier Net at this moment in time when robust broadband access and middle mile transport has never been more critical to economic prosperity. Hoosier Net's users are already doing great work, and I cannot wait to see how this investment will further connect Hoosiers to high-speed broadband," said Shirley Bloomfield, Chief Executive Officer of NTCA.
With the help of middle-mile networks like Hoosier Net, rural Hoosiers will have the ability to access high-speed Internet. "We are pleased to have Accord be an owner of Hoosier Net on behalf of their Indiana REMC(s) and telephone cooperative owners," said Rob Shema, Chief Executive Officer of Hoosier Net and CNI. "For us, gaining access to fiber resources for our Indiana middle mile network is critical. Accord's investment and partnership will help make that possible."
Hoosier Net provides owners, telecommunications providers, and direct commercial clients such as hospitals, schools, and government organizations with high-speed fiber-optic backbone capabilities. Miami-Cass REMC is one of Accord's members. They've had the good fortune of receiving significant grant money from the Rural Digital Opportunity Fund (RDOF), Cass County government, and the City of Delphi as they've built out broadband internet in their Indiana coverage areas. "Accord's investment in Hoosier Net will allow Broadway Broadband to help monetize the commercial side of our network and continue cost-effective network growth," said Rob Schwartz, President of Wabash Valley Power Alliance's Manager's Association and Chief Executive Officer of Miami-Cass REMC and Broadway Broadband.
"As more and more federal and state funds are devoted to expanding broadband access in rural areas, Indiana's Internet service providers are scrambling to keep up," said John Greene, Chairman of Hoosier Net, LLC and CEO of New Lisbon Telephone Company. "Because of the enormity of building a statewide middle mile network, we are happy with Accord's investment and partnering opportunities as we apply for NTIA Middle Mile Grant Funding to help us build out this network."
Accord Telecommunications Collaborative, LLC
Accord is owned by 21 service providers that serve critical and life-enhancing services to their communities. Accord and its owners maintain thousands of miles of fiber ready to provide access to telecom providers and robust services to business customers. Visit www.accordtelcom.com or call 765-343-3910 for additional information.
About NTCA
NTCA-The Rural Broadband Association is the premier association representing nearly 850 independent, community-based telecommunications companies that are leading innovative change in smart rural communities across America. In an era of transformative technological developments, regulatory challenges and marketplace competition, NTCA members are advancing efforts to close the digital divide by delivering robust and high-quality services over future-proof networks. Their commitment to building sustainable networks makes rural communities fertile ground for innovation in economic development, e-commerce, health care, agriculture and education, and it contributes billions of dollars to the U.S. economy each year. Visit us at www.ntca.org.
About NRECA
The National Rural Electric Cooperative Association (NRECA) is the national trade association representing nearly 900 local electric cooperatives. From growing suburbs to remote farming communities, electric co-ops serve as engines of economic development for 42 million Americans across 56 percent of the nation's landscape. As local businesses built by the consumers they serve, electric cooperatives have meaningful ties to rural America and invest $12 billion annually in their communities. Visit us at www.electric.coop.
About Hoosier Net, LLC
Hoosier Net is owned by 34 service providers that offer state-of-the-art services in their respective communities. Hoosier Net's fiber-optic backbone services are available to telecom operators and direct commercial customers. Hoosier Net and its owners are responsible for thousands of miles of fiber-optic network across Indiana. Hoosier Net also provides commercial service throughout the United States through INDATEL. Visit us at www.hoosiernet.com.
Media Contact
August Zehner, myTRA, PR for Hoosier Net, azehner@mytraconsulting.com or 317-403-3550
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Original Source: Hoosier Net Welcomes New Member Accord
