How Much Money Can Broadband Bring a Rural Community? By Some Estimates, Millions.

As the federal government distributes $42.5 billion to expand broadband internet access across America and its territories, some local leaders are asking themselves: How much economic impact could faster internet create?

The true dollar figure would be spread across the economy, from agriculture and small businesses to harder-to-track impacts like an increased willingness for families to relocate to rural areas.

But a report by the Benton Institute for Broadband & Society estimates that, across 15 agricultural counties in Illinois, faster internet speeds could boost production of corn and soybeans by over $100 million annually. 

The report argues that faster internet will allow farmers to more precisely plant, fertilize and harvest crops — a method called “precision agriculture.” In areas with slow internet speeds, the ability to utilize precision agriculture methods are more limited, the report says.