Meridiam breaks ground on “historic” fiber optic infrastructure investment in Memphis, Tenn.
(WO) – Meridiam broke ground on a fiber infrastructure project to enable citywide broadband internet access in Memphis, TN. Blue Suede Networks, a Memphis-based fiber-to-the-premises network developer owned and financed by Meridiam, is contracted to develop, build, finance, and manage a high-speed fiber-optic network that will pass at least 85% of business and residential premises throughout the city.
Ting will serve as network’s ISP partner, bringing 2-gigabit symmetrical service and the company’s outstanding customer support to businesses and households throughout Memphis, regardless of residents’ income levels. Ting is expected to provide service to the first Memphis residents in Q3 2024.
“Today, we break ground on a new infrastructure project and start to break through the digital barriers that will expand our city’s potential,” said Memphis Mayor Paul Young. “This historic private investment promises to transform Memphis from one of the country’s least connected cities to a model of digital equity and opportunity. It is testament to what can be achieved when government, business, community, and private industry collaborate with vision, ambition, and with our collective betterment as the ultimate goal.”
This project is part of a series of Meridiam-led investments, totaling more than $2.7 billion, into digital infrastructure that will connect over 1.8 million homes across more than 17,000 miles, many in rural and underserved areas in Europe and North America.
“Access to high-speed internet is critical to bridge the digital divide and aims to contribute to a society where anyone, regardless of income level, can communicate instantly with others, benefit equally from essential services like education and healthcare, and have better access to job opportunities or can develop businesses,” Meridian said in a press release.
Projects are already underway in Bloomington and Central Indiana; Selma and Central Alabama; Alberta, Canada; and across Europe in Austria, Germany, and Romania.
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