Bloomington, Indiana, gives final go ahead for broadband project

Bloomington (IN) took final steps to solidify its agreement for city-wide, high-speed internet. Paris-based Meridiam will now be able to build a fiber optic network to at least 85 percent of residents within three years. The city’s redevelopment commission passed a resolution to appropriate funds generated by Meridiam’s new tax increment finance (TIF) district. Meridiam will invest $50 million in the network but receive almost $11 million in tax breaks through the TIF over 20 years. Under French law, Meridiam is a benefit corporation. Bloomington information and technological services director Rick Dietz said this makes the company a good fit for the city. “Not only are they concerned about their bottom line for their investors, but their bottom line includes environmental, social, and corporate governance goals and [United Nations] sustainable development goals,” Dietz said. Meridiam’s network will provide one Gigabit per second exclusively through a yet-to-be-named internet service provider (ISP) for at least five years. After the exclusivity period, any ISP can use the infrastructure. Meridiam said it hopes to announce a contract with an ISP this July. The company plans to begin laying fiber sometime in 2022.