RUSHVILLE, Ind., July 7, 2009 (GLOBE NEWSWIRE) -- Responding to President Obama and Congress' mandate to bring high speed internet to underserved rural areas of the United States, Omnicity Corp (OTCBB:OMCY) will be applying to the Rural Utilities Service (RUS), Department of Agriculture, and the National Telecommunications and Information Administration (NTIA), Department of Commerce in response to their notices of stimulus funding that were released in detail last week. Omnicity has been delivering advanced telecommunications services to rural areas of the Midwest since 2003 and has developed a business model that is positioned to take full advantage of the broadband initiatives established pursuant to the American Recovery and Reinvestment Act of 2009.
Greg Jarman, CEO of Omnicity, stated, "We have put together an alliance, that we will announce over the next month, which will dramatically accelerate Omnicity's overall plan to deploy a carrier grade fiber optic and wireless network across the entire State of Indiana as well as several other states where we are working on our acquisition strategy, thus duplicating this alliance and stimulus funding across several states. We believe that if we are successful in this application that it will be a tremendous benefit to unserved rural citizens across the Midwest, a healthy boost to the State of Indiana and the regional economy, and a great benefit to our Company and our shareholders."
RUS has established the "Broadband Initiatives Program" (BIP) which will extend loans, grants and loan/grant combinations to facilitate broadband deployment in rural areas. NTIA has established the "Broadband Technology Opportunities Program" (BTOP) which makes available grants for deploying broadband infrastructure in unserved and underserved areas of the United States, enhancing broadband capacity at public computer centers and promoting sustainable broadband adoption projects. In facilitating the expansion of broadband communications services and infrastructure, both programs will advance the objectives of the Recovery Act to spur job creation and stimulate long-term economic growth and opportunity.
About Omnicity:
Our vision is to be the first broadband service provider to expand its network across rural America.
Omnicity Corp is a public company based in Indiana providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets and is planning to be the premier consolidator of rural market broadband nationwide. Omnicity's strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and continue to partner with Rural Electric Membership Co-ops and Rural Telephone Companies. Omnicity has an experienced broadband operations team with extensive wireless broadband/ISP expertise as well as the expertise to consolidate large numbers of businesses through its roll-up strategy.
Forward-looking statements, made pursuant to safe harbor provisions of the PSLR Act of 1995, inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for changes after the date of this release.