See correction/clarification at the end of this article
New Jersey telecommunications company SiFi Networks has begun laying optical fiber throughout Rancho Cordova, offering download speeds of 10 gigabits to homes and businesses.
The $63 million all-fiber internet open access network should take two years to reach every address in the city, said company spokesman Adam Brill.
SiFi Networks has already begun installing the fiber in one of Rancho Cordova’s established neighborhoods, said city spokeswoman Maria Kniestedt. “By the end of 2024, every residence and business in the city will have access to the gigabit network.”
Rancho Cordova is a major job center, with a workforce of 65,000 and some 3,500 businesses, and the fast internet is seen as an economic development tool, Kniestedt said.
SiFi Networks is based in Morristown, New Jersey, and it is funded by European pension funds, Brill said. There is no taxpayer money going into the project, he said.
SiFi will install the fiber to each address in the city, and it will operate the network. Other internet providers can then connect customers.
“Big telecom companies can’t afford to do this all over the country,” Brill said, adding that it gives the city “digital curb appeal” to businesses and residents who want connectivity at their work or home.
In December, San Diego-based communications infrastructure company Netly Fiber said it plans to spend $50 million over the next two years to install wholesale fiber optic connections to every address in Folsom.
Netly doesn’t provide internet directly to customers. Instead it builds fiber optic lines to every home, business, school and government building in a city. Other service providers then lease that last-mile connection to serve the end customers. Netly is backed by private equity investors, who see the fiber backbone as a good long-term investment.
Correction/Clarification
An earlier version of this article included a misstatement of the number of businesses in Rancho Cordova.
An earlier version of this article included a misstatement of the number of businesses in Rancho Cordova.
