Gov. Perry Announces SBC to Invest Additional $800 Million in Texas
Telecom Reform Legislation is Primary Factor for Investment
Gov. Rick Perry today praised SBC's announcement that it will invest an additional $800 million in the Texas economy as a direct result of reforms passed by the legislature this year. SBC is investing the funds in video and high-speed Internet technology.
"This tremendous capital investment will bring more choices and new services to Texas consumers, and it will have a huge impact all across this state as these funds flow through our economy," Perry said.
In September Perry signed into law Senate Bill 5, which simplified government regulation of the telecommunications industry to encourage new technology investments and create greater competition for video, cable and telecommunications services. SBC cited the reforms as the primary factor in the decision to invest in Texas.
"Senate Bill 5 has enhanced Texas' reputation as the national leader when it comes to modernizing telecommunications policies and allowing consumers to reap the benefits of increased competition," Perry said. "Texas is already realizing the benefits of the responsible reforms contained in that visionary legislation."
The investment will lay the groundwork to provide video and high-speed Internet access technology in the state over power lines. Texas consumers will be among the first in the nation to have the opportunity to receive high-speed voice, data and video transmissions through their electric utility service.
"SBC's new investment is merely the beginning of the benefits that Texas will experience as a result of these revolutionary reforms," Perry added. "Billions of dollars and thousands of jobs will follow, and because the eyes of the nation are once again on Texas, the groundbreaking advancements developed in our state will ultimately change and improve the lives of people around the world.'
Perry was joined by Representative Phil King, a primary author of Senate Bill 5, at Alcatel Labs, for SBC's announcement, which is one of the largest single private-sector technology deployments in the state's history
It was the second major economic expansion announcement that Perry has made in as many days for the Dallas area. On Wednesday Perry announced that T-Mobile USA will bring 850 new jobs at a new Technology Campus in Frisco. The expansion is expected to be completed in three years and will pump millions more dollars into the Texas economy.
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