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State authority OKs $7M loan for Citynet expansion

By The Associated Press, The Charleston Gazette

CHARLESTON, W.Va. -- The West Virginia Economic Development Authority has approved a $7 million loan to help Citynet expand its fiber-based telecommunications network.

The low-interest loan will help pay for constructing 130 miles of fiber and interconnecting Citynet's telecommunications network in the Bridgeport-Clarksburg, Morgantown and Fairmont areas.

The project will be done in several phases. Citynet president and CEO Jim Martin has said the first phase is expected to take two years and cost $12 million to $15 million.

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