Time Warner Cable announced plans to invest $25 million to expand their fiber network to business customers in New York City. The deal will see networks constructed in Brooklyn as well as the Financial and Flatiron districts, according to a report from CNET.
The cable company says customers can expect to see speeds of up to 1 gigabit per second. The service will target companies with high data needs such as design firms and technology-based businesses. Other sections of the city have already been reaping the benefits of fiber networks from Time Warner. One such area is the revitalized Brooklyn Navy Yard, a 300-acre complex that will eventually house a Time Warner Learning Lab and Employment Center.
The project as a whole is part of a bigger initiative from New York City Mayor Michael Bloomberg which includes cooperation from Verizon, Cablevision Systems and AT&T as part of a goal to improve broadband services to underserved parts of the city. "We are constantly looking for ways to bridge the digital divide," said Rahul Merchant, chief information and innovation officer for the city.
Time Warner hasn’t released any pricing for their fiber service yet. For comparison, Google is building fiber networks in parts of Missouri and Kansas that are available to consumers and businesses. Their 1Gbps download / upload service sells for roughly $70 per month. Verizon is also working on bringing their FiOS network to the five boroughs for residential use, according to a spokesperson.