Ashtabula

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Great Wave Broadband

Issuer(s)
DFWR//Finance Fund
Investment Amount(s)
(in millions)
$4.5M//$5M
Closing Date
2016
County
Ashtabula

GreatWave Broadband Services provides broadband telecommunication services to residential and business subscribers located in rural Ashtabula, Lake and Geauga Counties.  Formerly known as the Conneaut Telephone Company, GreatWave has been in business over 100 years in Conneaut, Ohio.  The company currently has over 2,000 telephone customers, 1,650 cable TV subscribers, and 3,200 broadband internet users.

With the $9.5M NMTC allocation, GreatWave anticipates adding 650 new broadband telecommunication customers per year by expanding their services in areas where it was previously unavailable due to lack of infrastructure.  Additionally, with the NMTC financing, GreatWave will be able to retain 37 full time jobs and create 17 additional full time positions with comprehensive benefit packages over the next 7 years.

This project marks DFWR’s first use of its allocation in a non-metro county.