Though we work hard every day to provide superior communications services, we have our critics. Recently, Susan Crawford published an article that included biased and inaccurate assertions, making AT&T out to be something it is not. Simple facts disprove her claims.
In the last five years AT&T has invested more in the U.S. than any other public company — a total of $96 billion. In addition, a 2012 study by the independent research institution, Progressive Policy Institute, ranked AT&T the No. 1 “Investment Hero” of U.S. companies investing in infrastructure, buildings and “capital intensive” expenditures across the United States.
Our new initiative, Project Velocity IP, or Project VIP, continues and extends our commitment to investment in our nation’s communications networks and to providing the best service possible to our customers. We expect to invest an additional $14 billion over three years — $8 billion for wireless initiatives and $6 billion for wire line initiatives. With this additional investment AT&T’s total capital spending is expected to be approximately $22 billion for each of the next three years.
AT&T’s commitment to Project VIP will help expand mobile networks and improve customers’ ability to connect on the go. It is obvious that our culture frequently uses and relies on smartphones. It only makes sense that we encourage investments to support mobile and other communications technologies and satisfy the needs of consumers.
These investments mean more than new inventions; they also mean jobs. The IP transition alone will call for construction workers and the industries that supply them, generating more work and investment opportunities. According to a study by Deloitte, the U.S. could invest between $25 billion to $53 billion in 4G broadband networks between 2012-2016. Conservatively, these investments could account for $73 billion to $151 billion in GDP growth and between 371,000 and 771,000 new jobs.
In a rebounding economy, this kind of opportunity for growth can make a difference in communities across the nation.
AT&T is honored to play such a large part in the day-to-day lives of our customers. .
Marshall Criser, president,