FAYETTEVILLE — Some businesses have decided against relocating to Fayetteville because there is not much of a telecommunications infrastructure. KMC Telecom hopes a $20 million investment will change that.
KMC Telecomis spending millions of dollars building a 30-mile fiber optic network to serve Fayetteville. Fayetteville economic leaders say the network will help lure businesses to the area.
"This is the infrastructure that you need to have in place for 2000 and beyond," says David Jameson, of the Chamber of Commerce. "It's the same equivalent as when people were running water and sewage lines back in the '50s."
Company officials say this infrastructure will put Fayetteville on par with New York and Raleigh when it comes to fiber optic and telecommunications.
"Without such an infrastructure, you'll never attract other businesses because it's what businesses are looking for," says company CEO Michael Sternberg. "The third highest cost item on the income statement is communications, after personnel and overhead."
KMC Telecom plans to spend $40 million on its Fayetteville office over the next 10 years.