SIOUX FALLS, S.D. (KELO) — Midco announced a major acceleration of its plan to bring 10G internet to South Dakota. The original announcement in 2019 had an end goal of 2030; on Tuesday, Midco announced that timeline has moved to just three years from now in the entire Sioux Falls region.
“We feel that we can get to 10 gigabits per home, and that’s a lot, it’s more than anybody needs right now,” Chief Technology Innovation Officer Jon Pederson said.
Right now Midco’s highest speed internet option is currently 1 gigabit per second, but with a major investment in new fiber installation, Midco will soon offer internet 10 times faster to all of its customers around the region.
“We plan no bill increases associated with this upgrade,” Pederson said.
“This project, $500 million is all going to be our own equity and financing,” Midco CEO Patrick McAdaragh said. “It’s going to take about 8 years to do; in the Sioux Falls area it’s going to take about three years.”
The switch to 10G is already underway around Sioux Falls this summer.
“It takes a lot, you have to add more fiber, you have to sometimes pull out equipment, put more equipment in,” Pederson said.
“With a project like this, there’s a lot of dirt that’s going to move, a lot of land work that has to be done, people don’t always like that, people don’t always like when there’s stuff done in their yards, stuff done in their roads, but the payoff is going to be incredible,” Sioux Falls Mayor Paul TenHaken said.
“This investment will make Sioux Falls one of the best-connected cities in all of the nation,” Lieutenant Governor of South Dakota Larry Rhoden said.
State and local leaders celebrated Midco’s investment announcement in Sioux Falls Tuesday, saying it’s a game-changer for future economic growth in KELOLAND.
“Tomorrow will be here much sooner than we realize,” South Dakota Congressman Dusty Johnson said. “Technology workers, entrepreneurs, healthcare, they are hungry and they will thrive in the communities that feed them bandwidth.”
A project with the potential to attract new companies to the region, while continuing to grow Midco’s headquarters in Sioux Falls.
“If Midco grows beyond just this region and grows into Missouri or wherever jobs grow here,” McAdaragh said.
“There’s going to be a lot of work and it will most certainly bring in jobs to Sioux Falls,” Pederson said.
Midco says all of the Sioux Falls region will have access to 10G by 2025, but the fiber installation and access is already popping up in neighborhoods around the city. Midco has a map showing the installation progress that will show you when work is happening in your neighborhood.