Stimulus Package Opportunities for Broadband Companies
Many technology companies incorrectly believe that the American Recovery and Reinvestment Act of 2009 is focused on the commercialization of clean technology at the exclusion of all other industry verticals. Nothing could be further from the truth. To date, there have been multiple Funding Opportunity Announcements that have applied to technology companies at various stages of their corporate lifecycle across a wide range of industry verticals. And I guarantee that when the 2010 Appropriations Bill becomes final, there will be more than a few earmarks for companies who fall outside that category.
One such example of a non-clean tech vertical eligible for stimulus money is broadband.
Last week, the Commerce and Agriculture Departments released a joint Notice of Funding Availability (NOFA) announcing the application criteria and general policies that will apply to awarding the first $4 billion of the total $7.2 billion in federal broadband stimulus funds. Rolling applications to access that $4 billion slug of stimulus money begin today!
The remaining funds, not dedicated to this award cycle or program administrative matters, will be made available under subsequent NOFAs. As both agencies learn from the application process, the terms of subsequent NOFAs are subject to change.
Read more about this excellent broadband funding opportunity in our Reed Smith client alert. Our Advertising Technology & Media practice also blogged on this topic. Anyone interested in reading about issues intersecting digital advertising, new media, ecommerce and the law should check out their blog.
