On Monday, the Bridgeport Development Authority took the next big step in turning the entire city into what’s being called a “gigacity.” Community Development Director Randy Spellman said the group signed off on soliciting proposals from lending institutions for a $2 million loan to help the project.

 

The loan would be coupled with a $3 million low interest loan from the West Virginia Economic Development Authority – given preliminary approval on Sept. 18 – would allow for Bridgeport to expand the gigabit service from the test area of roughly 100 homes to the entire city. Roughly 35 percent of those households in the test area signed up, which City Manager Kim Haws said in the past easily exceeded the threshold needed to show that it would be utilized.

 

The fiber-optic internet service that would be placed in the city would be done by Bridgeport-based internet provider Citynet. And both loans – if secured and formally approved – would be paid back by Citynet as opposed to the resident. Fees from the service would cover the costs.

 

The BDA, said Spellman, is serving as a conduit for the $2 million loan being sought as well as the conduit for the gigabit project. For those not aware, gigabit Internet offers users download, upload speeds at 100 times the rate of an average broadband connection. To get the service, the fiber-optic installation that was done in the test area would have to be installed city wide.

 

“The approval Monday allows us to seek proposals from banks,” said Spellman. “This is laying the groundwork to expand the project beyond the initial test scope. This is a long-range continuing project and we hope to see the momentum continue that we saw during the six-month pilot project.”

 

While many would like to have the service immediately, Spellman and other city officials – including individuals from Citynet – have advised that the project will take several years to complete when – and if – the state’s loan is approved. Spellman said it will be worth the wait.

 

“Beyond what it does for the individual family and businesses, it’s a tremendous economic development tool as we’ll be able to offer something that can’t be offered anywhere else in the state,” said Spellman.

 

Officials have labeled the project as “Gigaport.” The name is a combination of gigabit and Bridgeport.