Capital investment is a key ingredient in the formula for economic growth. Unlike regular consumer and government spending (“C” and “G” in the GDP accounting identity), investment today allows the economy to produce more tomorrow, and often opens up new business opportunities that wouldn’t have existed otherwise.
Verizon is proud to be named among the country’s top “Investment Heroes of 2014” in a new report from the Progressive Policy Institute. But Verizon (#2 on the list) isn’t alone in communications or tech investment, as companies from every part of the Internet ecosystem – ISPs, hardware makers, and “edge companies” – invested billions last year to “bet on America’s future.” On the whole, telecom companies plowed an estimated $46 billion last year into their operations, leading all other industries.
The Internet ecosystem is an excellent example of how investment drives innovation: faster, smarter, more reliable networks enable new services, which in turn drive demand for more network innovations and new opportunities for investment and job and economic growth. With our top-ranked 4G LTE network and FiOS, our fiber-to-the-home network that ushered in a decade ago the push for greater use of fiber in broadband, Verizon has been a big part of the investment and innovation story.
Read the full report here [PDF]