Millions in Grants and Loans to Benefit New Mexico Rural Broadband Projects
WASHINGTON - U.S. Senators Jeff Bingaman and Tom Udall today announced that two New Mexico organizations will share over $10 million in broadband loan and grant funding that has been awarded through the American Recovery and Reinvestment Act.
The Pueblo de San Ildefonso has been awarded a $632,225 loan and a $632,225 grant for the TewaCom Broadband Initiative (TBI), Phase 1-Upper Rio Grande Valley Project. The funding will enable the Pueblo to expand service to 2,405 households.
Peñasco Valley Telephone Cooperative Inc. has been awarded a $4.81 million loan and a $4.77 million grant for the Peñasco Valley Telephone (PVT) Incumbent Local Exchange Carrier (ILEC) Project. The funding will provide high-speed broadband to unserved areas in the ILEC area through fiber and wireless technology.
"Businesses, hospitals and schools, among others, depend on broadband technology to effectively carryout their missions and goals. Expanding high-speed broadband is an important investment in our state's economic future and will create business opportunities and attract new jobs," Bingaman said.
"This Recovery funding will provide people in rural New Mexico with access to broadband technology that would otherwise not be available. This is the first time funding of this kind is going towards a Tribal initiative to expand access to critical technology and improve local government and schools in these pueblo communities," Udall said.