logo
Fiber Broadband Association Marks Industry Investment in U.S. Manufacturing

Fiber Broadband Association Marks Industry Investment in U.S. Manufacturing

Business Wire2 days ago

NASHVILLE, Tenn.--(BUSINESS WIRE)--Today at , the Fiber Broadband Association (FBA) released data that shows the positive potential of NTIA BEAD (Broadband Equity Access and Deployment) broadband infrastructure funding program, reflected through its members' investment response to comply with Build America, Buy America (BABA) for the program. A number of FBA's BABA-compliant members reported nearly $650 million of investments to bring manufacturing jobs back to the U.S. and 5,600 new jobs created to date. This effort has led to an additional 1,325,000 square feet of manufacturing capacity added with either new manufacturing facilities being built and/or expanded over the past two years -- representing 72+ manufacturing facilities across 28 states. Fiber is the primary network technology required by the BEAD Program to comply with BABA.
"The fiber broadband industry creates thousands of jobs and contributes billions of dollars to the American economy. The BEAD program has catalyzed FBA members to onshore fiber manufacturing investment and jobs. The continuation of BEAD funding is critical for closing the digital divide, preserving good jobs, stimulating the economy, and maintaining American leadership," said Marissa Mitrovich, Vice President of Public Policy, Fiber Broadband Association.
The Buy America Preference applies to BEAD funded infrastructure projects. In a February 2024 Notice of Final Waiver, the Department of Commerce (DOC) issued a limited waiver for certain construction materials and manufactured products used in BEAD funded projects. For instance, DOC found that all optic glass used in manufacturing fiber and fiber optic cable must be BABA compliant, although it provided a waiver for non-optic-glass inputs to the optical fiber pre-form process, and that key fiber transmission electronics needed to be manufactured in the U.S., although it waived the 55 percent cost of components requirement needed. The BEAD BABA Waiver is available at https://www.commerce.gov/sites/default/files/2024-02/BABA%20Waiver%20Signed.pdf.
'The amount of time, effort, commitment, and training required to bring these jobs back to the U.S. cannot be understated, nor should the value these jobs and facilities are having on the communities that will benefit from this new capacity,' said Anis Khemakhem, Chief Marketing Officer, Clearfield. 'The BABA commitment reaches every level of the companies involved, permeating the supply chain and demanding focused organizational alignment. The investment spans from soft costs, such as training, to hard costs, such as product tooling.'
Stay updated by subscribing to the Fiber Broadband Association's weekly newsletter here.
About the Fiber Broadband Association
The Fiber Broadband Association is the largest and only trade association that represents the complete fiber ecosystem of service providers, manufacturers, industry experts, and deployment specialists dedicated to the advancement of fiber broadband deployment and the pursuit of a world where communications are limitless, advancing quality of life and digital equity anywhere and everywhere. The Fiber Broadband Association helps providers, communities, and policy makers make informed decisions about how, where, and why to build better fiber broadband networks. Since 2001, these companies, organizations, and members have worked with communities and consumers in mind to build the critical infrastructure that provides the economic and societal benefits that only fiber can deliver. The Fiber Broadband Association is part of the Fibre Council Global Alliance, which is a platform of six global FTTH Councils in North America, LATAM, Europe, MEA, APAC, and South Africa. Learn more at fiberbroadband.org.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Taiwan's 50 Richest 2025: Strong Demand For Chips Helps Drive Double-Digit Growth In Wealth To Record High
Taiwan's 50 Richest 2025: Strong Demand For Chips Helps Drive Double-Digit Growth In Wealth To Record High

Forbes

time10 minutes ago

  • Forbes

Taiwan's 50 Richest 2025: Strong Demand For Chips Helps Drive Double-Digit Growth In Wealth To Record High

Daniel Tsai. This story is part of Forbes' coverage of Taiwan's Richest 2025. See the full list here. Taiwan's thriving semiconductor industry continues to boost its economy, which grew at an annual rate of 4.6% in 2024, the highest in three years. Despite the jolt from U.S. President Donald Trump's tariff threats, which left the benchmark Taiex index up only slightly since we last measured fortunes, the rising New Taiwan dollar powered a 13% increase in the combined wealth of Taiwan's 50 richest to $197 billion from $174 billion last year. ss A total of 36 listees are more well-off in this round, resulting in a shuffle in the top ranks. Siblings Daniel & Richard Tsai were the biggest dollar gainers with a $3.2 billion boost, which took their wealth to $13.9 billion and earned them the No. 1 spot after a year's gap. Shares of their Fubon Financial Holding jumped 16% from last year, thanks partly to its expanding banking operations. Quanta Computer chairman Barry Lam, who was last year's richest, slipped to second place, despite an 8% uptick in his net worth to $12.6 billion. In February, the maker of laptops and AI servers teamed up with American quantum processing firm Rigetti Computing to develop superconducting quantum computing technology. Brothers Tsai Hong-tu & Cheng-ta of Cathay Financial Holdings, cousins of Daniel and Richard, climbed two places to No. 3, with $10.9 billion. In November, a wind power unit of their group's insurance arm agreed to invest $1.65 billion for a 50% stake in an offshore wind farm in Taiwan, to be constructed and run by Danish energy company Ørsted. Siblings Jeffrey Koo Jr. and Angelo Koo, who own stakes in CTBC Financial Holding and KGI Financial Holding, respectively, are the biggest gainers in percentage terms. Their separately listed fortunes more than doubled to $4.7 billion and $3.3 billion, thanks partly to new information about their holdings. There are three newcomers this year, including two minted from the red-hot sector of AI servers: Lin Tsung-Chi, founder and chairman of King Slide, a maker of rails for servers, enters the ranks with $2.9 billion; brothers Chao Chung-Hsin & Yung-Tsang join the list as their Jentech Precision Industrial, a supplier of semiconductor cooling components, reaped the benefits of the frenzied AI data center buildout. The third new entrant is Chang Chung-Hsing, founder and chairman of Apex Dynamics, which supplies gearboxes for products such as industrial robots. The net worth of footwear magnate Zhang Congyuan, who was Taiwan's richest person three years ago, shrank by $1.8 billion to $8.3 billion, registering the biggest decline in dollar terms. Shares of his Guangdong-based Huali Industrial Group fell by more than a fifth amid U.S. tariff threats. Four listees from last year dropped off. Notable among these are brothers William & Wilfred Wang, whose fortune drawn from Formosa Plastics Group was impacted by global headwinds in the chemicals sector. The minimum net worth to make the list rose to $1.3 billion from $1.1 billion last year. Full Coverage of Taiwan's Richest 2025: Editing assistance by Phisanu Phromchanya. Reporting by Shu-Ching Jean Chen, Gloria Haraito, Enyi Hu, Shanshan Kao, Chengbo Liu, Catherine Wang and Yue Wang. Methodology: The list was compiled using information from individuals, analysts, government agencies, stock exchanges, databases and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on May 9 and real-time net worths on may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued by using financial ratios and other comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to Taiwan, or citizens who don't reside in Taiwan but have significant business or other ties. The editors reserve the right to amend any information or remove any listees in light of new information. Acknowledgements: Special thanks to CBRE Taiwan, Euromonitor International, Market Intelligence & Consulting Institute, TrendForce and the other experts who helped us with our reporting and valuations, including Wei-Jiun Hung, L&C Attorneys-at-Law; Parsley Ong, J.P. Morgan; Hung Ou Yang, Brain Trust International Law Firm; and Sophie Perret, HVS.

The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit
The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit

Yahoo

time19 minutes ago

  • Yahoo

The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit

In March, President Donald Trump stood before a joint session of Congress and vowed to "do what has not been done in 24 years: balance the federal budget." The first major legislative package of Trump's second term, however, will throw the federal budget farther out of balance, the Congressional Budget Office (CBO) concluded in an updated assessment of the bill. The CBO estimates that the One Big Beautiful Bill Act, which cleared the House late last month and is awaiting a vote in the Senate, will increase deficits by $2.4 trillion over the next 10 years. The bill will reduce tax collections by an estimated $3.75 trillion over that period, while reducing government spending by an estimated $1.3 trillion. The budget deficit is the gap between how much the federal government spends and how much tax revenue it collects in a single year. If spending is higher than revenue—as has been the case in every single year since 2001—then the government must borrow to fill in the gap. The "Big Beautiful Bill" will, in effect, force the federal government to borrow more heavily in the future. And all that extra borrowing comes with more costs, since interest must be paid. The Committee for a Responsible Federal Budget, a nonprofit that advocates for reducing the deficit, estimates that the bill will add about $3 trillion to the deficit once interest costs are included in the calculation. The bill would also double the federal government's interest payments from nearly $900 billion in 2024 to $1.8 trillion by 2034, the group estimates. The bill's actual impact on the deficit is likely to be even larger than what the CBO estimates, due to several provisions that are meant to game the number-crunching agency's scoring process. Several of the tax breaks in the bill—such as the higher standard deduction, an expanded child tax credit, and tax exemptions for tips and overtime pay—are temporary and will expire by 2029. But those policies are clearly not meant to be temporary, and if extended, they would further widen the deficit in 2030 and beyond. The extension of the 2017 income tax cuts is essential to avoid a massive tax hike that would hit nearly all American households. And many of the spending cuts included in the bill—such as new work requirements for Medicaid and food stamps—are worthwhile efforts. But the problem with the bill, as the CBO's report outlines in stark terms, is that the spending cuts and tax cuts do not offset one another. That would be an imprudent decision even if the federal government was not deep in debt and already on course to see borrowing increase in future years. Given its current fiscal situation, piling more borrowing costs on future American taxpayers seems utterly foolish. Could revenue from tariffs help to offset the budgetary impact of the tax bill? The CBO released an assessment of Trump's tariffs on Wednesday showing that those higher taxes on imports would reduce the budget deficit by about $2.8 trillion over the next decade. In a statement, the White House touted that report as proving that Trump's policies, as a whole, would reduce rather than expand the budget deficit. The first problem with that is that those tariffs might not remain in place long enough to matter. They have been in constant flux for months as Trump has raised, lowered, paused, and altered them on a nearly weekly basis. Two federal courts have also ruled that the tariffs were unlawfully imposed—and if those decisions are affirmed on appeal, then the tariff revenue could vanish entirely. (The CBO's assessment did not take into account the court rulings or any changes made to the tariffs since May 13.) The other problem is that the White House is effectively admitting that its tariff policies will offset the economic benefits of the tax cuts it is trying to pass through Congress—which the White House is also arguing will boost economic growth. In short, the Trump administration is trying to have its tax cuts and eat them too. Here's a better plan: Draft a tax bill that doesn't add to the deficit, so that the tariffs don't need to be a part of the picture at all. The post The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit appeared first on

Trump's China Tariffs Are Backfiring in Funniest Way Possible
Trump's China Tariffs Are Backfiring in Funniest Way Possible

Yahoo

time20 minutes ago

  • Yahoo

Trump's China Tariffs Are Backfiring in Funniest Way Possible

Donald Trump's tariffs on China have sent automakers scrambling to keep production lines moving—and their main solution is the exact opposite of what the U.S. president intended. When Trump announced his sweeping 'reciprocal' tariffs on almost every country (and a few uninhabited islands) in April, he promised that 'jobs in factories will come roaring back into our country.' Apparently, part of his goal was to make it so expensive to import certain products that companies would simply start manufacturing them in the U.S. But so far, the opposite is coming true. Four major automakers are rushing to find a way to keep procuring rare-earth magnets, a key component of car motors, which are primarily made in China. Without the magnets, the companies fear car production could shut down in a matter of weeks. Several carmakers, both traditional and electric, are considering moving part of the manufacturing process to China, The Wall Street Journal reported Wednesday. This could include building electric motors in Chinese factories or shipping American-made motors to China to have the magnets installed, according to the Journal. Trump's restrictions only cover the Chinese-made magnets, not finished parts such as a fully built motor. 'While efforts are under way to bolster supply chains and suppliers of these elements outside of China, this will take additional time and will not alleviate the immediate shortage of elements vital for automotive components used to produce vehicles here at home,' the heads of the Alliance for Automotive Innovation and MEMA, the Vehicle Suppliers Association, warned in a letter. China had agreed to reduce export controls on rare-earth magnets as part of a 90-day tariff pause with the United States. Trump has since accused China of dragging its feet on license approvals for magnets, while broader trade talks between the two nations appear to have come to a total standstill. Trump complained about the state of trade talks at 2:17 a.m. Wednesday. 'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' he wrote on Truth Social.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store