Recent News // News Release: Connect Minnesota Survey Results Highlight Broadband’s Impact on Businesses & Economy
Report examines the economic impact of business technology adoption
ST. PAUL, MN – Connect Minnesota today released a comprehensive report detailing the key role broadband plays in business performance across multiple sectors and the implications broadband use and adoption has on economic performance in the state.
“Broadband is a key factor to keeping the Minnesota economy competitive. This detailed report will assist policymakers and business leaders in implementing technological modernization goals,” said Connect Minnesota Program Manager Bill Hoffman. “Expanding broadband access, adoption, and use within the business sector is essential for growing and sustaining a digital ecosystem that spurs economic vitality and leverages our intellectual capital.”
The report is based on a scientific survey of 802 business establishments in Minnesota.
Among the report’s key findings:
Broadband-connected businesses bring in approximately $200,000 more in annual median revenues than non-broadband adopting businesses
About 83,000 Minnesota business establishments have websites
47,000 Minnesota businesses use the Internet to advertise job openings or accept job applications
Online sales in Minnesota account for approximately $6.2 billion in annual sales revenue
More than one-half of Minnesota businesses in the healthcare sector (55%) use the Internet to stay in touch with their customers and patients
40,000 businesses in Minnesota are still not connected to broadband and are unable to actively participate in the digital global economy
For several years, Connect Minnesota’s parent organization, Connected Nation, has worked to quantify the impact that increased broadband availability and utilization has on the economy. The broadband and business study is an annual study to provide insights in the business side of broadband adoption. Across Minnesota, 73% of businesses subscribe to broadband service, which is the same adoption rate from 2010.
Connect Minnesota’s Business Technology Assessment was conducted as part of the State Broadband Initiative (SBI) grant program, funded by the National Telecommunications and Information Administration (NTIA). The business survey results have been independently peer reviewed, and this survey will be used by state and local leaders to help drive increased adoption and use of broadband.
Through broadband mapping, education, and research such as this business survey, nonprofit Connect Minnesota has been working on promoting broadband access, adoption, and use since 2009. Find out more at www.connectmn.org.
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