The Novogradac Journal of Tax Credits’ recent cover story focused on the Terrestrial for Every Region of Rural Alaska (TERRA) network, a broadband internet access development in rural Alaska. This development uses New Markets Tax Credit (NMTC) financing, and beginning in 2011, has worked with our team at Travois on two phases.
As reported by Novogradac, TERRA was launched six years ago by General Communication Inc. (GCI) and has grown to serve nearly 90 communities in remote and rural areas of Alaska. The network runs in a 3,289-mile-long ring and provides broadband to residents, businesses, schools, first responders, hospitals and clinics in western Alaska.
The article highlights the important community impact of NMTCs, discussing job creation and new employment opportunities. The last phase of the project will create 100 construction jobs and 13 permanent jobs, in addition to the new employment opportunities facilitated by the introduction of reliable Internet access.
In the article, CDE Michael Bland talked about the importance of the broadband project to Alaska Native communities. President Phil Glynn discussed project financing and how NMTCs helped make the project possible.
Read their perspectives and the full article on novoco.com.