• The economies of the world are increasingly powered by the creation, use and transmission of information and entertainment content in digital format.
• The deployment of Internet infrastructure impacts the economy both directly and indirectly.
• The effects of broadband technology on the economy are much more far-reaching than the direct benefit created by capital investment in deployment and the manufacturing of the components such a network requires.
• The most significant economic benefits do not come from the deployment of the technology, but in its use.
• As Internet penetration increases, there will be resulting demand for computer and home network equipment, software applications, wireless devices and other equipment.
• Like all infrastructure investment, the economic impacts of Internet will also include the increased productivity and innovation that it fosters.
• The full economic impact of widespread Internet deployment and adoption cannot be captured in even the most sophisticated econometric modelling.
• The Internet provides increases in employment and economic activity
• A study sponsored by Cisco Systems found that full implementation of currently underway or planned Internet business solutions could result in over $528 billion in cost savings to U.S. businesses though 2010. Additionally, this study finds that these solutions could result in a cumulative increase of over $1.5 trillion in revenue to businesses resulting from implementation of Internet business solutions.
• The wide-ranging deployment of Internet infrastructure will have the direct effect of employing thousands of people: to manufacture, sell, purchase, install, manage, and maintain the equipment and facilities, as well as the resulting services.
• The Internet makes the world smaller. The ability to communicate and exchange information instantaneously and across vast distances has enabled more individuals and businesses to participate in the economy, regardless of their location.
• Large companies can connect with employees, suppliers, and partners around the globe, and small businesses can find their customers anywhere in the world.
• Businesses can hire knowledge workers almost regardless of where they are, greatly expanding employment opportunities for people in the United States, and giving developing nations the ability to become economic powerhouses by providing information technology services to the rest of the world.
• The Internet, along with other computer technologies, is literally enabling some developing countries to "leapfrog" the industrial revolution and jump straight to the Internet Age.
• The Internet makes the world simpler. For businesses, the Internet breaks down logistical barriers, offering greater flexibility and power in the way they do business. It shrinks time and distance, simplifies complex business processes, and enables more effective communication and collaboration--a giant corporation can now be as nimble as a tiny startup, while a family firm located in a remote rural village now has the world as its marketplace.
• Combined with advanced productivity software, the Internet enables individual knowledge workers to use their time more efficiently, and to focus on more productive tasks. And it gives consumers the ability to shop smarter, to find the best products at the right prices. In fact, it empowers them in ways that once were available only to large companies, enabling them to join with others to buy products at lower prices, and bid competitively around the world.
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