Broadband could prove to be the panacea for the cash strapped state economies, according to a report by Citizens for a Sound Economy.
“Every state in the country stands to benefit—170,000 new jobs in California, 90,000 in New York, and 80,000 in Texas, just to name a few—and encouraging widespread broadband deployment will restore many of the jobs that were lost in the burst of the technology bubble,” said Dr. Wayne Brough, chief economist for CSE Freedom Works Foundation and author of the study in a press release.
Broadband has the ability to counter the flight of jobs to overseas markets.
bq. The study explains how widespread deployment of broadband technologies to residential customers will create demand for the production of fiber optic lines, its installation and support, and will create “spillover” jobs in other industries spurred by an expanded broadband consumer base. Analysis of the data shows that the total of these new jobs will be 1.2 million—enough to replace every lost job in the sector twice over.