Comcast Corporation (NASDAQ:CMCSA) shares are trading marginally lower in on Thursday.
Yesterday, the broadcasting and cable television company said it would continue significantly expanding its next-generation Xfinity network across several Utah counties over the next three years.
"Comcast's $138M multi-gig speed fiber network expansion in Utah is a visionary investment in our state's future," said Utah Governor Spencer Cox. "We're future-proofing Utah's economy and ensuring more Utahns have access to the digital opportunities of tomorrow."
Comcast plans to invest more than $138 million to install hundreds of miles of new fiber highways capable of delivering multi-gigabit speed. The planned expansions add to Comcast's ongoing $500 million investment in Utah over the last three years.
This year, Comcast said it plans to expand its fiber network to encompass communities across various counties, including Box Elder, Davis, Salt Lake, Summit, Tooele, Utah, Wasatch, Weber, and Utah County.
Some areas already has access to Xfinity and Comcast Business services. These expansions will establish a foundation for deploying DOCSIS 4.0, paving the way for new symmetrical multi-gigabit Internet options.
Comcast's dedication to new communities extends beyond infrastructure development, encompassing digital opportunities through Project UP.
This initiative, backed by a $1 billion commitment, aims to connect millions to the internet, fostering limitless potential. In the past year, Comcast Utah allocated over $4.6 million to support local community organizations in delivering hands-on digital skills training, workforce development workshops, and tech education for students, adults, and individuals with disabilities.
"By establishing the best broadband infrastructure today, we are securing the economic prosperity of these communities for tomorrow," said J.D. Keller, Senior Vice President, Comcast Mountain West Region.
Price Action: CMCSA shares are trading lower by 0.08% to $38.86 at last check on Thursday.
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