Vexus Fiber™ Announces Plans to Build New $200 Million Fiber Optic Broadband Network for the Rio Grande Valley Area of Texas.
Targets cities of Mission, McAllen, Edinburg, Harlingen, and surrounding areas for Phase I Construction.
LUBBOCK, Texas, June 28, 2021 /PRNewswire/ -- Vexus Fiber™, a leading fiber service provider in Texas, announced that it is bringing its 100% fiber-to-the-home network to the Rio Grande Valley area of Texas. Vexus Fiber will fully fund the network through capital investment, providing residents and businesses with multi-gigabit symmetrical speed Internet service and more.
"Residents of the Rio Grande Valley will now have a new, competitive choice for internet, TV and phone services. Our network will be built with future-proof technology that will not only provide homes and businesses with multi-gigabit speeds but will also foster growth and economic development for the Rio Grande Valley region," said Jim Gleason, CEO of Vexus. "Demands on bandwidth are high in homes today. Activities such as working from home, online learning and multiple video streams mean residents need a network that delivers lightning-fast upload and download speeds. Vexus plans to bring both multi-gigabit speeds and great Texas-based customer service to the region."
Vexus Fiber plans to begin construction by the end of the year and connect nearly 175,000 homes and businesses to its 100% fiber network. Completion of the network to the region is estimated to take about 36 months. Vexus service areas in the Rio Grande Valley will include Mission, McAllen, Edinburg, Harlingen, and surrounding areas with total investment in the region estimated to be around $200 million. Employment will include close to 200 construction jobs and 150 permanent jobs for the region.
"We believe economic growth and prosperity are directly tied to a community's ability to reach gigacity status," adds Gleason. "Vexus is proud to bring 100% fiber internet with a superior infrastructure to the Rio Grande Valley."
This investment will help property values, increase employment opportunities and make the region more attractive for business investments, including startups and remote workers. This new infrastructure also increases opportunities for education, agriculture and healthcare while offering a critical service to residents. While the Rio Grande Valley is already an attractive location for businesses, gigabit broadband infrastructure should help make the area even more attractive for industry relocations.
The Rio Grande Valley expansion is financed through existing Vexus Fiber investors, Pamlico Capital and Oak Hill Capital, who have agreed to invest additional equity as part of their ongoing commitment to Vexus' growth and the communities they serve. "Vexus Fiber continues to execute on the macro theme of providing alternatives to cities in Texas for high-speed internet," said Scott Baker of Oak Hill Capital. "With Vexus, residents can now enjoy high-tech internet with the same reliability and speed enjoyed by those in large metro areas."
Vexus Fiber currently operates fiber-to-the-home networks in Lubbock, Amarillo, Wichita Falls, Abilene, and surrounding areas in Texas, as well as Hammond, Covington and Mandeville areas in Louisiana. The company is also building new networks in Tyler and San Angelo, Texas.
Residents and businesses that are interested in Vexus Fiber services can visit connect.vexusfiber.com to express interest and receive updates on construction. Typically, residents will receive communication via email and mail about activity in their neighborhood 30 days prior to construction.
Additionally, Vexus plans to hire local management, sales, technical, and customer service professionals to support the area. For those interested in joining the Vexus Fiber team, visit vexusfiber.com/jobs.
About Vexus
Vexus is a leading provider of fiber-based communications solutions for both residential and business customers across Texas and Louisiana. As a technology leader in the industry, Vexus Fiber offers an extensive range of internet connectivity over a true fiber-to-the-premises network. Services also include a robust HD Video platform, voice, TeleCloud services, and more. For more information, please visit vexusfiber.com.
Vexus Fiber Contact: Kyle Alcorn 573-481-2732
Pamlico Capital Contact: Stuart Christhilf 704-404-7150
Oak Hill Capital Contact: Dawn Dover 917-349-5621
For inquiries email: [email protected]
SOURCE Vexus Fiber
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