A Texas-based telecommunications company plans to build out a fiber network over the next 24 to 36 months that promises to bring faster internet speeds to residential and business customers in Santa Fe.
Vexus Fiber, which currently operates networks in the Texas cities of Lubbock, Amarillo, Wichita Falls and Abilene, on Tuesday, announced it plans to begin the buildout this year. The company said it will invest $35 million to build the fiber network, which would create between 85 and 90 new jobs in the Santa Fe area. About 35 of those positions are expected to be permanent, according to the company.
Rich Brown, the director of community and economic development for Santa Fe, said the added capabilities of a fiber network will help to support the city's technology, film and entrepreneurial business communities.
A fiber optic uses light for conductivity instead of electricity, which not only increases internet speeds but also increases bandwidth and reliability.
Kyle Alcorn, the director of sales and marketing for Vexus Fiber told Albuquerque Business First that engineering for the Santa Fe project is expected to begin in April. Construction on the fiber network could begin as soon as June or July.
Last fall, Vexus Fiber announced plans to invest $250 million to build a fiber network in the Albuquerque area, a project that the company said would create more than 100 permanent jobs. At the time, the company said the Vexus network would support 10-gigabit speeds for residential and business customers.
The company is still working on an agreement with city of Albuquerque officials, Alcorn said. Once that agreement is in place, the engineering for the project could begin within 30 days, he said.
Vexus is backed by investment groups Pamlico Capital in Charlotte, North Carolina, and Oak Hill Capital Partners, located in Connecticut, New York and California. Vexus, formerly called NTS Communications, was previously acquired by Vast Broadband, which announced the close of the deal in September 2019.
Oak Hill Capital Partners and Pamlico Capital led a recapitalization of Vast Broadband and NTS, according to the Vast announcement.
