The United States is planning to spend $9 billion on a new National Broadband Network in the coming years, an expansion that could create the most massive Internet infrastructure in the world, according to a report.
The network is being built by Verizon and Google and is expected to cost $70 billion, with about half coming from federal stimulus funds, according a document obtained by Recode.
The document shows that the total cost of the project is expected at $100 billion, which would be nearly triple the cost of what the U.”s government spent on the network in 2009, the first year it was built.
The U.N. Broadband Fund estimates the network will cost $1.4 trillion over its lifetime.
“It’s going to cost a lot more to build it. “
The U.s. is already the world’s second-most wired country and the network is going to be more expensive than ever,” UBS economist and former U. K. finance minister Arvind Subramanian told Recode during an interview.
“It’s going to cost a lot more to build it.
The networks that were built in the U., like the UMWF and the DTH [digital thermostat], were all built using a lot of fossil fuels.
Now they’re getting more efficient, but that cost is going up.”
UBS, a bank based in London, said the network could be the most expensive in the Western world.
“In 2025, the U, UMWFs and DTHs will have an aggregate value of $2.3 trillion, while the broadband network will have $1 trillion,” the bank said.
“This means the U is spending more than double the current U. s. budget on infrastructure, a staggering sum that is already outpacing other emerging economies.”
The UBS study is the first of many reports that show how the U S. will get ahead of the curve in its broadband network.
It was first published by the think tank in 2016.
UBS noted that the U20 Summit and other U. N. events are taking place in 2019, and that the next U. n. summit is slated for 2021.
The fund expects the U to spend on broadband by 2025, according, but has not yet released figures for the network.
“We see this as the beginning of a trend that will see the U as a global leader in the field of digital infrastructure,” U.B.S.-based economist Robert Pollin told Recoding.
The new network will be powered by Google Fiber, a Google subsidiary, but will also be powered using technology from Verizon, which is the largest provider of fiber optic cables in the United States.
S government funding has been pouring into broadband infrastructure for decades.
In 2009, President Barack Obama called for an Internet Tax Credit to make broadband available to everyone.
And a decade later, Congress approved the Federal Communications Commission’s Broadband Initiative, which included a $10 billion stimulus package to fund broadband infrastructure.
The Obama administration also spent $1 billion on the UAWs $50 billion National Broad Bandwidth Initiative in 2014.
The Federal Communications Act of 1996 provided $20 billion in stimulus for broadband.
But Congress passed a $2 billion stimulus bill in 2010 to boost the funding to $5 billion.
“There’s no question that the FCC is underfunded and that Congress needs to be investing more in broadband, but there’s also no doubt that broadband is a global issue,” said John Bergquist, chief executive of broadband provider Comcast.
He noted that broadband infrastructure has been built in countries such as Germany, Japan and Canada.
“I think the way that the technology is being deployed in these countries is very important for this to be a global problem,” Bergquist said.
President Donald Trump and Vice President Mike Pence announced plans in December to create a national broadband network in the first half of 2018, with more funding coming from the federal government and private sector.
The project is likely to cost about $100 million, according UBS.