LONDON, ON - The City of London, in partnership with Downtown London/MainStreet London and the London Economic Development Corporation are proposing the Last Mile/Fibre Optic Connection Grant program to support London’s growing digital creative sector.
The infrastructure currently in place to deliver internet does not have the capacity for today’s business needs of robust, reliable, high speed connectivity. Fibre optic technology is becoming the preferred means of providing the necessary infrastructure to keep and attract businesses. The high expense to bring fibre optic cable into businesses is cost prohibitive, making for a difficult decision whether to start or grow a small tech business in London’s downtown.
If approved, this pilot program would provide financial assistance to property owners and multi-year tenants in designated areas of the Downtown Community Improvement Project Area with high capacity fibre-optic broadband service. This new program would fund 50% of the eligible costs to a maximum of $20,000 to fund the installation and connection of high capacity fibre-optic broadband service. The target area for this two year pilot program is the central core of Downtown, focused on Dundas and King Streets between Wellington and Ridout Streets.
London’s Digital Creative sector is made of over 300 diverse companies employing 8000 people.
Quotes:
“This is a great opportunity for London to support data-intensive businesses in our city’s core,” said Matt Brown, Mayor of the City of London. “I am pleased to work with the LEDC and Downtown London to attract innovative, creative businesses to London and grow our economy.”
“The Last Mile Grant strengthens our competitive positioning as a location of choice for a variety of digital creative uses,” said Janette MacDonald, CEO and General Manager Downtown London. “These companies want to locate in a vibrant, creative district where they can work, play and live. Improved access to fibre optic services and improved connectivity improves our ability to attract and retain both start-ups and growing companies, as well as the workers they need to hire and develop to be successful in their industry. “
“This Fibre optics connectivity program offers much needed assistance for small and medium businesses to grow, be competitive and create jobs,” said Kapil Lakhotia, President & CEO London Economic Development Corporation
“As a digital creative agency, Inner Geek needs fast and reliable Internet,” said Colton Hathaway CEO of Inner Geek Inc. “We’re excited about fibre optic networks and their ability to better connect London with the rest of the world.”
Media Contact:
Ashley Conyngham
Director of Marketing and Communications
The London Economic Development Corporation
380 Wellington Street, Suite 701 London, ON. N6A 5B5
Office: 519 661 1883 | Mobile: 519 494 9716
