$14 million to completion to wire the town for gigabit fiber to the home.
Payback of the networks cost should be simple and quick enough depending on how many people sign up.
$57 per month basic.
Phone and IPTV available on the connection.
4 users share the gigabit connection(1,000 Mbps), but has a guaranteed 100Mbps speed.
Regular incumbent Internet providers refused to use/rent capacity on the network and the town had to become a full ISP to carry out the project.
Ultrafast internet speeds that most Canadian city dwellers can only dream of will soon be available to all 8,500 residents in a rural Alberta community for as little as $57 a month, thanks to a project by the town's non-profit economic development foundation.
"We'll be the first 'gig town' in Canada," said Nathan Kusiek, director of marketing for O-Net, the community-owned internet service provider that runs the fibre optic network being built by the non-profit Olds Institute for Community and Regional Development in Olds, Alta., about 90 kilometres north of Calgary.
On Thursday, the board of O-Net gave approval for residents to get access to a full gigabit (or 1,000 megabits) per second of bandwidth for the same price that they currently pay for a guaranteed download speed of 100 megabits per second — $57 to $90 a month, depending on whether they have bundled their internet with TV and phone service.
Rural internet typically slow, expensive
The Olds project is a rarity. Most rural communities across Canada have to make do with internet service — often delivered by dial-up or satellite — that is slow or expensive, or both.
Broadband costs Compare internet services across Canada
Not too long ago, Olds was in that boat. Some businesses were even threatening to leave town because of the challenges posed by the sluggish internet.
"We had engineering companies here who were sending memory chips by courier because there wasn't enough bandwidth to deal with their stuff," recalls Joe Gustafson, who spearheaded the project to bring a fibre network to Olds.