February 11, 2020 Media Contact: Carolyn Mandelker
FOR IMMEDIATE RELEASE Harrison Edwards PR 914-242-0010
Key Metric Achieved as Network Expands to Offer Residential Fiber Service
(Medina, Ohio)…… David Corrado, CEO of Medina County Fiber Network (MCFN) announced today that network revenue has met the key milestone of equaling its monthly bond payment through subscriber revenue. MCFN, which launched in 2013, has been providing high-speed fiber connectivity to over 200 local businesses with extremely-fast speeds of up to 10Gbps. Its “Open Access” model allows internet service providers (ISPs) to lease space on county-owned fiber infrastructure and compete for customers’ business. Corrado said that the monthly revenue stream now equals the networks’ $100,000 monthly bond payment.
“This is a key metric that we’re pleased to reach as Medina County Fiber Network begins expanding our trusted network to homes throughout Medina County,” says Corrado. “It’s proof that the county’s investment in fiber infrastructure works well now, and positions our community for even more economic success and better quality-of-life.”
Corrado will be meeting with engineers this week to finalize how the fiber-to-the-home expansion will be constructed. Phase I of the project kicked off in December and covers the Villages of Seville and Westfield Center, and Guilford Township. He says that resident demand for fast, affordable, and reliable fiber service in the Phase I communities remains strong, and that his team is now preparing for the second phase, which will extend coverage to the balance of the county.
“It is imperative that we hear from every Medina County household as we’re going to build in the communities where we have the strongest demand first,” he says. Medina County households that want fiber service should visit www.medinacountyfibernetwork.com to learn more about the fiber-to-the-home project, and share their street address to inform the project team which will be deciding where it should construct the network next.
Corrado says he’s encouraged by the steady demand for fiber service among businesses and residents and is pleased that the network’s subscriber revenue now equals the bond payment. “The community need is great, so seeing revenues grow with demand is an indication that our investment in the community is paying off.”
About Medina County Fiber Network
Serving customers since 2012, the Medina County Fiber Network (MCFN) is an Open Access fiberoptic network that delivers internet, video, voice, and other applications to businesses and residents in Medina County, Ohio with extremely fast speeds up to 10Gpbs. MCFN is managed through the Medina County Port Authority and was funded through revenue development bonds and grants. MCFN was initially designed to help companies grow through access to high-speed fiber, but in 2019, in response to strong community demand, MCFN began expanding its fiber network to provide residential services. The network currently serves over 200 companies and once fully built, will be potentially accessible to nearly 75,000 households and businesses. Residents and businesses interested in MCFN service should visit www.medinacountyfibernetwork.com.