3 Reasons High Speed Internet Is Needed for Economic Development

March 31, 2017 |   4 minute read

3 Reasons High Speed Internet Is Needed for Economic Development

Few things are as important to modern business success as high speed internet access.

The Canadian Radio-television and Telecommunications Commission (CRTC) recognizes high speed internet as a resource vital to modern-day communications. They have undertaken to increase cross-country access to 90% by 2021, and 100% 10-15 years from now.

What does High Speed Internet in Rural Regions Mean for Economic Developers?

You know the frustration of slow loading times. The wrench it throws in productivity. The lost leads. If your goal is attracting an investor, then you intend to leverage the internet to show your community - it is, after all, your quickest point of access to a global audience itching to explore new regions.

So how can your economic development region leverage the internet to compete? To start, you can provide a service expected of all competitive business leaders and those hoping to be - high speed internet access. Start small, with a big piece of the puzzle (then call in the experts for help with strategy)

3 Ways Rural High Speed Internet Will Attract People To Your Economic Development Region:

  1. High Speed Internet...Quick Connections...Happy Businesses. You know how to talk to people; the makings of fruitful conversation. But what if they don’t stay long enough for a conversation to begin?This is the danger of a weak, slow internet connection. Late email response. Impatient site visitors who leave before getting the chance to see what your region is all about. Slow connections restrict business on both ends, hurting the experience for community leaders, local business and would-be tourists.If your economic development region still struggles with slow speed, take it up a notch. Businesses can close deals faster, share value faster, and build your region faster.
  2. Improves Rural Region Visibility

    “Whereas broadband is available to 100 per cent of Canadians that live in urban areas, only 85 per cent of Canadians in rural areas have access.” - 2014 CIRA Factbook

    Your region may be geographically remote, but with high-speed internet, it can be accessed by millions.
    email marketing best practicesShow your economic development region has the strength of speed - an invaluable business resource in itself as a means to engage, reach, and to spread the word on what your location has to offer. Attracting an investor and attracting tourists goes hand-in-hand. Speed gets attention. Attention leads retention, and once you as an economic developer have your audience, you are then in a position to present the best of your region and form strong bonds with all involved.

    3. Proves Your Support of Current Local Business
    High speed internet is also an invaluable means of support for local business. It shows you value their investment in your region and their goals for growth. As an economic developer and community leader, you’re showing prospective businesses how relations with your rural region can further their industry objectives.

It’s leading by example and keeping the local economy churning in the process.

Now you have 3 compelling reasons to get your economic region up to (internet) speed. Leveraging the internet to show your community begins with a strong connection. You build relationships faster, increase regional visibility and support the relationships you already have.

Do your investors know how good you really are?

Here’s a Free Checklist to establish what you do well and where you can improve.
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Once you’re up to speed with a quality connection, you’ll need to craft an economic development strategy that can match that quality.
Canadian Radio-television and Telecommunications Commission 
CIRA Factbook