Treasury Department announces approval of federal funds to connect Mississippi Homes and Businesses to affordable, high-Speed Internet

WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of $151.5 million for high-speed internet projects in Mississippi under the American Rescue Plan’s Capital Projects Fund.

A key priority of the CPF program is making funding available for broadband infrastructure, advancing President Biden’s goal of affordable, high-speed internet for everyone in America.

The CPF provides $10 billion to states, territories, freely associated states, and Tribal governments to fund critical capital projects that enable work, education, and health monitoring in response to the public health emergency.

In addition to the $10 billion provided by the CPF, many governments are using a portion of their State and Local Fiscal Recovery Funds (SLFRF) toward meeting the Biden-Harris Administration’s goal of connecting every American household to affordable, reliable high-speed internet. Together, these American Rescue Plan programs and the Bipartisan Infrastructure Law are working in tandem with President Biden’s Investing in America agenda to close the digital divide – deploying high-speed internet to those without access and lowering costs for those who cannot afford it.

Mississippi is approved to receive $151.5 million for broadband infrastructure projects, which the state estimates will connect approximately 47,300 homes and businesses to affordable, high-speed internet.

Mississippi’s funding will go to the Broadband Expansion and Accessibility of Mississippi (BEAM) fund, a new competitive grant program designed to fund three types of broadband investments: large scale projects, line extensions, and community based broadband projects.

The BEAM fund will prioritize last-mile fiber applicants for the large scale and line extension projects, and will prioritize high-speed, reliable internet to downtown commercial areas for community based broadband projects. The plan approved by the Treasury Department today represents 93% of the state’s total allocation under the Capital Project Funds program.

Mississippi submitted plans for the remainder of their CPF funds and these plans are currently under review by the Treasury Department.