Artesia, NM – For Immediate Release
The U.S. Department of Agriculture (USDA) has awarded a $28.9 million loan guarantee to Peñasco Valley Telephone Cooperative (PVT) for broadband through the ReConnect III program. Through PVT, the new USDA loan will give more than 3,000 New Mexicans in Chaves, Lincoln, Eddy and Otero counties access to Fiber To the Premises (FTTP) service.
The project will have PVT deploying more than 300 miles of fiber in rough terrain. The rocky and difficult terrain creates challenges for infrastructure build outs and has resulted in these areas being underserved. When the project completes, it will bring 1 gig service to more than 80% of PVT’s service area.
“Building fiber to these locations will give access to fast and reliable broadband service to many communities,” said Glenn Lovelace, PVT CEO. “The investment in infrastructure like this is what makes our communities grow and prosper. Many residents in the area rely on second tier internet services, like satellite and cell service, which can charge expensive fees for exceeding low usage levels, or choke your internet speeds down to nearly nothing. Affordable and reliable high speed internet can bring better jobs to the rural communities and expand educational opportunities as well. This is a quality of life game changer.”
Headquartered in Artesia, New Mexico, with a history that starts in 1905, PVT presently owns and operates the exchanges of Cottonwood, Hondo, Hope, Lakewood, Loco Hills, and Mayhill in Chaves, Eddy, Lincoln, and Otero counties located in Southeastern New Mexico. PVT serves customers over a 4,929 square mile area.
This is the third award that the USDA has given PVT to build broadband out to rural New Mexicans. PVT was awarded a $4.2 million grant on May 5, 2020 through the ReConnect I program, and was awarded a $8.1 million loan through the ReConnect II program. USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas.
More information on the Reconnect III program in New Mexico can be found here:
