Community Foundations Boost Broadband and Economic Development

Today’s guest on my Gigabit Nation radio talk show, Sharon Stroh, gives us lots of valuable details on Steuben County, IN’s foundation that has made broadband possible for this rural area in Indiana. Before listening to the show, below is a helpful primer from fellow broadband advocate Larry Baumgart.

Community foundations are tax-exempt public charities serving thousands of people who share a common interest—improving the quality of life in their area. Individuals, families, businesses, and organizations create permanent charitable funds that help their region meet local challenges. (Check out the Council On Foundations)

The community foundation should be formed under the auspices of a Community Development Co-operative and could be used to coordinate grant applications and to issue community bonds for open access broadband networks, community media center, schools, clinics, etc.    This can be readily accomplished by transferring public land, worthy assets, into the community foundation to secure bonds which local residents can invest their money, savings, 401Ks, etc. and can not only get interest, but through a cooperative might reap dividends depending on how the funds are used.

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Building a Foundation for Broadband and Economic Development

Listen to Gigabit Nation’s show with Sharon Stroh, Director of Business Development for iMAN. This community foundation is bringing broadband to rural Stueben County. But not only does the foundation make broadband possible, it also provides grants for local economic development projects.

You should consider this strategy for your community.

 

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