Allocation of $42.5 Billion in High-Speed Broadband Funding to be Distributed to States

By: LSN Partners on June 29, 2023

President Joe Biden announced the allocation of $42.5 billion in high-speed broadband funding to all 50 States, territories, and the District of Columbia. This funding was created by the Infrastructure, Investment, and Jobs Act (IIJA) and distributed by the Department of Commerce’s National Telecommunications and Information Administration (NTIA).

The program, named Broadband Equity, Access, and Deployment (BEAD), will go toward grant programs that States can administer. Nineteen states will receive at least $1 billion in federal dollars, with the highest being Texas at $3.3 billion. 

States must submit proposals on how they plan to run their grant programs within 180 days of receiving a “formal notice of allocation,” scheduled for June 30th. Eligible entities can begin submitting their Initial Proposals starting July 1st. Once NTIA approves an Initial Proposal, which will occur on a rolling basis, eligible entities can request access to at least 20 percent of their allocated funds.

Currently, 8.5 million homes and businesses in the United States are classified as underserved, meaning they have partial or nonexistent access to high-speed internet. Significantly reducing this inequity by 2030 is the intention of the BEAD program, described by President Biden as “the biggest investment in high-speed internet ever.”

For more information and a state breakdown of the allocated funds, please see the White House’s allocation announcement, Announcement of broadband allocations.