The city of Eugene has the largest open access fiber network in Oregon with broadband service that pushes gigabit speeds. Now, the community is quantifying the importance of that connectivity, and highlighting metrics that show the direct effect the EUGNet network has on the region’s economic growth.

According to a new video released by the Technology Association of Oregon (TAO), more than 25 high tech companies have located in downtown Eugene in the last two years thanks in large part to fiber broadband access. And TAO credits the availability of the high-speed network for helping private companies in the region attract millions of dollars in venture capital. In fact, TAO calls the expansion of EUGNet “one of the most successful economic development programs in the history of the city.”

Today in Eugene’s home of Lane County, Oregon, there are more than 470 technology companies in total, employing more than 4,000 people.

We continue to hear more from our partners in the Smart Gigabit Communities program about how broadband has made an impact on economic development. In another example, third-party research from the Blandin Foundation shows that fiber-backed broadband in Red Wing, Minnesota increased residents’ economic benefit by more than $32 million per year. That’s equal to $1,850 in annual benefit per household.