Telus has revealed plans for their next $1 billion investment which will bring the highest internet speed in the world to Vancouver.
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The plan includes a huge fibre-optic network upgrade over the next five years, providing services up to 150 megabits per second for both business companies and residential users.
The new service will begin rolling out in 2016, and focuses on benefiting technology, education, and healthcare sectors by allowing them to send files of any size at faster speeds.
During the news conference, Telus spokesperson illustrated the upgrade as expanding a three-lane highway to five lanes, and ultimately being able to handle more capacity at any given time.
The massive upgrade to Vancouver’s network is “the most significant contribution our organization can make to propel Canada’s communications infrastructure and ensure its global competitiveness for decades to come,” said president Darren Entwistle. “This investment will spur continued growth in our thriving technology sector by providing the exceptional connectivity, speed, and capacity that are needed to power our innovation economy.”
The high capacity network is music to the ears of Vancouver startups, which combined with tech companies rank among the top 20 technology hubs in North America. The network will not only make connections faster, but also more reliable, which will overall lead to better productivity and growth.