Show All Answers
Traditionally in Canada and the United States, internet infrastructure (cable, fibre-optic and other equipment) is built and operated by the same company that provides internet services to customers. With an open-access network, infrastructure and service delivery are separate. An independent party owns and operates the infrastructure, which internet service providers pay to use. This reduces barriers for providers to access new markets and encourages competition.
Ten gigabits, or 10-gig, refers to the amount of data that can be transferred per second – in this case, 10 gigabits per second capacity for uploading or downloading content through the internet. By comparison, the average download speed in Canada is less than 100 megabits per second (1,000 megabits equals 1 gigabit).
Residents can expect faster, more reliable internet service once the network is completed, though the actual speed you’ll experience will depend on factors such as your computer or device, your modem or router, and your internet service provider.
Internet is vital to attract and retain growing businesses – the quality of it matters. 10-gig internet speed will eventually be the standard all over the world, just as we will see with 5G for cell coverage. In a resetting economy where location matters less than it did even a year ago, it will be the quality of services that attract high-impact companies and inform people’s choices about where they’re going to live.
The total amount depends on details still in negotiation, but the investment would be significant.
Smart City Capital has committed $2 billion to support projects in Canada and is looking for willing partners. Beaumont’s size, its location and the city’s willingness to embrace innovative ideas make it an ideal location for one of the first projects in Canada.
Like any business, Smart City Capital does expect to make a return on its investment. Once the network is built, it will receive revenue from fees charged to internet service providers.
The network will be owned by Smart City Capital over the agreed upon concession period and then the infrastructure assets will be transferred to the City of Beaumont. If Beaumont chooses to extend the concession period (at any point) it will have the option to do so accordingly with the consortium.
At this time, Aurora, Illinois has also announced that is it in negotiations with Smart City Capital and the consortium.