FCC says broadband could create 2.4 million jobs

Published: September 27, 2011

Increasing broadband penetration by seven percent could create an additional 2.4 million new jobs, the FCC says. 

In the last 15 years, the Internet has been a driving force behind growth in the American economy, enabling as much economic growth as the Industrial Revolution generated in its first 50 years, FCC Chairman Julius Genachowski said.

Genachowski addressed America's broadband opportunities, examining why high-speed Internet is vital to national job creation, economic growth and global competitiveness, while speaking at LivingSocial's headquarters in Washington, D.C. 

He said the Internet accounted for eight percent of America's GDP growth from 1995-2009, and accounted for 15 percent of its GDP growth since 2004.

The United States captures 30 percent of all Internet revenue worldwide and more than 40 percent of net income, with $8 trillion exchanged over the Intenet each year.

Click here to read the full fact sheet on the FCC website.