Verizon to expand high-speed Fios internet in Rhode Island

Rhea-AI Summary

Verizon (NYSE, Nasdaq: VZ) plans to expand its Fios high-speed broadband service to over 3,000 underserved addresses in Jamestown and Westerly, Rhode Island. This expansion, in partnership with the Rhode Island Commerce , includes $3.6 million in funding from the American Rescue Plan Act (ARPA). The project will deploy more than 54 miles of fiber, offering plans with speeds of at least 300 Mbps starting at $35 per month when bundled with a Verizon mobile plan. Select areas will have access to Fios 2 Gig plans for $84.99 per month. Construction is expected to be completed by the end of 2026, bringing reliable internet service to power how residents work, live, and play in underserved parts of the state.

Positive

• Expansion of high-speed Fios internet to over 3,000 underserved addresses
• $3.6 million in funding from ARPA for the project
• Deployment of more than 54 miles of fiber
• Offering plans with speeds of at least 300 Mbps starting at $35 per month
• Access to Fios 2 Gig plans in select areas for $84.99 per month

Negative

• None.

News Market Reaction

-0.77%

1 alert

-0.77% News Effect

On the day this news was published, VZ declined 0.77%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Fios to reach more homes in the state, including Jamestown and Westerly

NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- In partnership with the Rhode Island Commerce Corporation, Verizon plans to expand its all-fiber, high-speed broadband, reliable service to over three thousand underserved addresses in Jamestown and Westerly.

“Verizon is focused on delivering high-speed internet service and the major economic benefits that it can provide, especially in underserved areas,” said Paul Sullivan, Vice President New England Wireline Network Operations for Verizon. “Our commitment to Rhode Island continues as we expand access to our 100% fiber Fios internet service to power how residents work, live and play.”

"We applaud the Rhode Island Commerce Corporation for their leadership in establishing this robust broadband program in the Ocean State. This program will help Verizon continue to build and enhance our fast, reliable network statewide while fostering digital inclusion and equity in under-resourced communities," said Katharine Saunders, Vice President and Deputy General Counsel for Verizon. "We know that residents depend on reliable broadband service to work, learn, and stream from home, and we look forward to expanding our network in these areas."

This expansion includes $3.6 million in funding as part of the American Rescue Plan Act (ARPA) and will deliver fast, fiber broadband service to residents in underserved parts of the state. More than 54 miles of fiber will be deployed in connection with the build – longer than the distance from the northern most to the southernmost tip of the state.

Transformative network performance
Verizon’s 100% fiber network delivers award-winning Fios broadband service. Customers who subscribe to Fios broadband service will have access to a wide range of plans that deliver at least 300 Mbps for both downloads and uploads starting at $35 per month with Auto Pay when bundled with any Verizon mobile plan.¹ Select areas of Rhode Island will have access to Fios 2 Gig plans - the fastest speeds offered by Fios - for $84.99 per month with Auto Pay when bundled with any Verizon mobile plan.²

Construction of the expansion is expected to be completed by the end of 2026.

1. For existing postpaid mobile customers with a Verizon mobile plan (excludes prepaid, business and data-only plans) who then add and maintain a Fios 300 Mbps plan. Availability varies. Auto Pay & paper-free billing req’d. Subj. to credit approval & may require a deposit. Mobile + Home Discount enrollment req'd. $99 setup and other terms apply. Wired speeds advertised. Wireless speeds may vary due to device limits, multiple users, network & other factors. See Verizon.com/yourspeed for more info.
2. For existing postpaid mobile customers with a Verizon mobile plan (excludes prepaid, business and data-only plans) who then add and maintain a Fios 2 Gig plan. 2 Gig is available in select areas only. Auto Pay & paper-free billing req'd. Subj. to credit approval & may require a deposit. Mobile + Home Discount enrollment req'd. $99 setup and other terms may apply.2 Gigabit network connection to your home. Average wired download and upload speeds between 1.5 Gbps and 2.3 Gbps. Wired and wireless speeds may vary due to device limits, multiple users, network & other factors. See Verizon.com/yourspeed for more info.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Ilya Hemlin
ilya.hemlin@verizon.com 
908-227-0536

FAQ

When will Verizon complete its Fios expansion in Rhode Island?

Verizon expects to complete the construction of the Fios expansion in Rhode Island by the end of 2026.

How many underserved addresses will Verizon's Fios expansion reach in Rhode Island?

Verizon plans to expand its Fios service to over 3,000 underserved addresses in Jamestown and Westerly, Rhode Island.

What is the starting price for Verizon's Fios broadband service in the expanded areas?

Verizon's Fios broadband service in the expanded areas starts at $35 per month for plans with speeds of at least 300 Mbps when bundled with a Verizon mobile plan.

How much funding is Verizon receiving for the Fios expansion in Rhode Island?

Verizon is receiving $3.6 million in funding as part of the American Rescue Plan Act (ARPA) for the Fios expansion in Rhode Island.