The telecommunications and media giant Comcast Corp. (Nasdaq: CMCSA) is growing its reach in the Pacific Northwest.
On Monday, Comcast announced it is spending $280 million this year across Washington and Oregon. The investment will help the company speed up its internet service, reach more homes and business, and provide donations.
“Our investment is helping to build a network of the future and get more rural communities in Oregon and Washington connected to the internet,” Rodrigo Lopez, senior regional vice president of Comcast’s Pacific Northwest region, said in a release.
Comcast's network upgrades will allow for upload speeds of five to 10 times faster than existing speeds, according to the company, and these upgrades should be complete in 40% of the company's network in the Pacific Northwest by the end of the year. The company is also expanding its services to about 60,000 new homes and businesses in Washington and Oregon.
The $280 million investment includes charitable efforts with organizations like Boys & Girls Clubs, Goodwill, Urban League, YWCA and others. For eligible households, Comcast is offering cheap internet that ends up being free once credits from the federal government are applied.
Comcast, headquartered in Philadelphia, owns Xfinity, Sky and NBCUniversal. The company generated $121.4 billion in revenue last year, up from $116.4 billion in 2021. Its fourth quarter 2022 revenue was $30.6 billion, up from $30.3 billion in the fourth quarter of 2021.
Comcast isn't the only company expanding its presence in the Pacific Northwest. Kirkland-based fiber internet company Ziply Fiber, which raised $350 million in 2021 and $450 million in September of 2022, has acquired four internet providers in the last year. Ziply Fiber's focus is rural and suburban areas rather than dense cities, and it covers Washington, Oregon, Idaho and Montana.
