The tech industry is moving to the Hawaiian Islands, where a new wave of infrastructure is expected to replace aging power grids, a new city and a whole lot more.
Here are five key points: 1.
The city of Honolulu is moving rapidly to build its next wave.
This year, the city of Hawaii plans to build an infrastructure that is capable of delivering a gigabit of fiber-optic connectivity to homes, businesses and other facilities.
It will do so with a $2.5 billion dollar budget.
That’s up from $1.9 billion the year before, according to a 2017 report by the city.
The new infrastructure will require a lot of money.
Honolulu’s $2 billion budget is about twice the size of its next-biggest competitor, the Silicon Valley-based Google.
But Google, which recently invested $1 billion in Hawaii, already spent a lot on infrastructure.
Infrastructure costs are going to skyrocket.
“We’ve got a very aggressive infrastructure plan that’s not going to be sustainable,” said Mark Cunha, executive director of the Hawaii Public Utilities Commission.
That plan, which was released this week, calls for spending $2,800 per household per month for a single gigabit connection.
The plan will be reviewed annually by the commission, which is a state agency.
The island’s tech boom is taking place fast.
Google invested $50 million in the state, according a report by Kona Community College.
The company also invested $60 million in infrastructure there in 2016, according the report.
The pace of investment is accelerating, according Mark Cuntas, a project manager with the company.
The Hawaiian island has the fastest internet speeds in the U.S., he said.
The government is a big part of the equation.
In 2017, Hawaii’s infrastructure is on track to cover nearly 80 percent of the state’s population, according Toews Hawaiian Islands Council on Economic Development.
That means about 2.5 million people would have access to broadband service by 2021.