This EDA investment supports the yadkin valley telephone membership corporation with installing a fiber optic cable network to serve the business corridor in yadkin county, north carolina
Ended Project Grant Awarded
- Award ID
- 047907724
- Recipient
-
The Yadkin Valley Telephone Membership Corporation UEI HKNZHXNBK6P9
- Awarding agency
-
Economic Development Administration
Department of Commerce
- Obligated
- $6,333,296
Award facts
- Assistance listing
- 11.307 Economic Adjustment Assistance
- Completion date
- Funding
-
- $2,814,798.00 Federal
- $3,518,498.00 Non-federal
- Place of performance
- Yadkinville, NC 27055, USA
Award details come from USAspending.gov.
About this award
The Department of Commerce Economic Development Administration (EDA) awarded a $6.33 million Project Grant to the Yadkin Valley Telephone Membership Corporation under the Economic Adjustment Assistance (EAA) program (CFDA 11.307). The grant funding will support the installation of a fiber optic cable network by Yadkin Valley Telephone to serve business corridors in Yadkin County, North Carolina. The new broadband infrastructure will allow businesses and industries in Yadkin County to recover from economic injury caused by the COVID-19 pandemic and strengthen the regional economy. Completed by September 2026, this project aims to boost private investment and job creation through the provision of resilient broadband connectivity that meets the needs of local residents and businesses.
Description
The coronavirus pandemic revealed the county's limited broadband market was not sufficient to meet the needs of its residents and businesses and the need for broadband connectivity. This project will allow businesses and industries within yadkin county to recover from economic injury and dislocation as a result of coronavirus, and weather future pandemics and crises with resilient infrastructure, which will strengthen the regional economy, support private capital investment, and create jobs.
Quick answers
Who received award 047907724?
047907724 was awarded to The Yadkin Valley Telephone Membership Corporation by Economic Development Administration (Department of Commerce) on May 24, 2022.
How much is award 047907724 worth?
$6,333,296 has been obligated on 047907724: $2,814,798 in federal funding and $3,518,498 in non-federal funding.
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