Technology Report Shows how Broadband Makes Good Business Sense in South Carolina
A study released today by Connect South Carolina shows the economic benefits businesses gain from using broadband. The research, which can be found at http://www.connectsc.org/research/, illustrates the impact of broadband on South Carolina businesses and highlights differences in revenues between businesses with and without broadband, the number of businesses that increase their revenues by using the Internet, and the number of businesses that empower their employees to telework.
Across South Carolina, businesses that subscribe to broadband report median annual revenues that are $200,000 higher than businesses that do not use broadband. South Carolina businesses that subscribe to broadband and maintain a website report median annual revenues that are $300,000 higher than businesses that do not use broadband at all.
While broadband-connected businesses tend to earn higher median annual revenues than their peers who do not subscribe, this difference is most pronounced among rural businesses. Rural South Carolina businesses with broadband have median annual incomes that are $500,000 greater than their peers without broadband.
From an employment perspective, three out of four Internet-connected South Carolina businesses in the Agriculture, Mining, Construction, and Utilities sectors bid on contracts online, effectively increasing the workforce opportunities.
Connect South Carolina is a statewide public-private partnership working on broadband expansion. The new Business Technology Assessment reveals how technology is being used by businesses and where gaps still remain across the state. The assessment is designed to measure technology adoption and the awareness of available broadband service among state businesses, and establish benchmarks for these metrics.