You can find a PDF of this press release here.

For Immediate Release

Contact: Brittany-Rae Gregory
brittany-rae@nextcenturycities.org
June 7, 2022

Washington, D.C. (June 7, 2022) – The U.S. Department of the Treasury created the Capital Projects Fund (“CPF”) to strengthen and improve education, health, and workforce development. Recipients are encouraged to fund projects in economically disadvantaged communities. Eligible states, territories, freely associated states, and Tribal governments can apply, request funding, and submit grant plans through the Treasury’s submission portal. 

Ryan Johnston, Policy Counsel for Federal Programs at Next Century Cities, offered the following remarks: 

“On average, 22% of rural Virginia, West Virginia, Louisiana, and New Hampshire residents still lack baseline access to 25/3 Mbps broadband connections. The CPF grant requirement that network deployments provide 100/100 Mbps symmetrical speeds introduces new possibilities for rural communities to gain access to high-speed service, participate in a digital economy, and complete many of the digital tasks we take for granted. It also reflects the U.S. Treasury’s commitment to long-term connectivity solutions and should be replicated in state and federal funding programs moving forward.”

Corian Zacher, Senior Policy Counsel at Next Century Cities, added the following comments: 

“By submitting successful CPF applications, Virginia, West Virginia, Louisiana, and New Hampshire took a critical step in taking advantage of the myriad of broadband funding sources. Investing in capital projects now will help states implement more effective and comprehensive broadband strategies for years to come. States that have not yet applied for CPF dollars risk missing out on much-needed resources that could better equip their communities for billions in IIJA broadband programs on the horizon.”

General questions about the Capital Projects Fund should be directed to CapitalProjectsFund@treasury.gov. 

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