Expanding Broadband: Jobs, Innovation and Rural Development
Nearly three years after the end of the most severe recession since the Great Depression, U.S. economic growth remains weak. The U.S. economy has experienced 11 consecutive quarters of growth in real gross domestic product (GDP), though never exceeding 3.0% since the second quarter of 2010. The U.S. economy is experiencing a tepid recovery because of the labor market struggling to gain traction, the seemingly endless European sovereign debt crisis, and concern about potential government spending cuts coupled with tax increases. The recovery will likely remain somewhat weak in 2012 due to the anemic labor market and uncertainties plaguing businesses, consumers, and investors. Virginia’s economy can get a helpful boost from affordable and high quality broadband internet access by job creation from broadband infrastructure, expansion of small business reach and improving efficiency and expanding educational opportunities.