At the 2017 Annual Meeting, Tipmont announced plans to build fiber internet across its electric service territory — ensuring all Tipmont members would have broadband access. I can still hear the cheers … and the disappointed response to our sharing that it would take until 2028 to complete the fiber network build.
You were loud and clear: That was too long. Had we settled, we would barely be at the halfway point today, but Tipmont has not earned your trust over 85 years by settling.
I’m thrilled to tell you that in September, Tipmont fulfilled its promise of broadband access for every member a full four years ahead of schedule. We got here through hard work form Tipmont employees, courage and comprehensive research from your board of directors and a strategic pursuit of capital and skill.
First, a study Tipmont commissioned from Purdue University revealed a 400% return on every $1 invested in fiber. That got the attention of state officials, who created Indiana’s Next Level Connections grant program. Tipmont has received over $20 million from this initiative, helping us hire more crews to build faster.
But fast builds mean nothing without the expertise to run a reliable network. For nearly a half-century of its own, Wintek shared Tipmont’s community-minded focus in the local fiber and technology space. Tipmont’s 2019 acquisition of Wintek offered an immediate infusion of unrivaled, locally focused institutional knowledge.
Today, nearly 9,000 of you have taken our fiber-optic service. What does that mean?
- You can submit your children’s homework without driving to a public WiFi hotspot, and their teachers can grade it from home, too.
- You can work remotely with speed and reliability, letting you spend more time with your family or relocate here for quality of life while keeping your current job.
- You can potentially save over $1,000 a year by switching to streaming from cable or satellite.
- You can also use streaming services as they should be, without buffering or lagging.
- You can capitalize on business opportunities and encourage economic growth.
And with an American Customer Satisfaction Index score more than 20 points above the average for internet service providers, it also means you’re happy with what we’ve done.
This is a major milestone, but we’re not finished. Tipmont is actively strengthening our fiber business with connections beyond our service territory in rural Tippecanoe County. The more connections we have, the stronger and more fiscally responsible our network grows.
Our celebration does not mean resting on our laurels. That is not what you do, and that is not what we do. I look forward to decades of fiber evolution, and I thank you for your trust in Tipmont’s ability to make good on promises that improve your life and help you succeed.
