Corning Incorporated Applauds Recent Study By New Millennium Research Council
Nationwide fiber optic network could generate more than $35 billion annually in investments; create more than one million jobs
WASHINGTON--(BUSINESS WIRE)--Feb. 25, 2002-- Corning Incorporated (NYSE:GLW - news) today applauded a new economic study, released by the New Millennium Research Council, which further supports the economic benefits of building a nationwide fiber optic network.
``The Millennium Study is significant because it demonstrates the huge impact that the deployment of a fiber optic network will have on the nation. It estimates that such a network would generate about $35 billion annually in investment and create 1.2 million permanent jobs,'' said Timothy J. Regan, senior vice president of Corning Incorporated.
``I applaud the work of the Millennium Group. And, I hope that American policy makers will read the study, realize the significance of universal fiber deployment, and take the necessary action to accelerate fiber deployment throughout the country.
``In addition to creating U.S. jobs, building a nationwide broadband network will bring a new and robust capability that we have not seen before,'' Regan said. ``Today our Internet applications are limited to audio, data, and still image video and users continue to be frustrated by delays associated with bandwidth limitations in the last mile,'' he said.
According to Regan, the fiber optic network of the future will enable users to access instantly information in all its forms, audio, data, and full-motion video. It will enable communications, entertainment, healthcare, games, computing, business productivity, security, and education applications that will change the way we work and the way we live.
Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 2001 were $6.3 billion. |
