U.S. Treasury approves $185.8 million in South Carolina broadband investments

WASHINGTON (Reuters) – The U.S. Treasury Department said on Tuesday it approved $185.8 million in American Rescue Plan funds for broadband infrastructure projects in South Carolina expected to connect about 31,650 homes to affordable, high-speed internet.

The Treasury said the funding comes from the $10 billion Capital Projects Fund, a pandemic aid program for states and tribal governments to fund capital projects that enable work, education and health monitoring. It will fund a South Carolina grant program that prioritizes last-mile broadband projects in rural areas that lack adequate internet service.

The Treasury began announcing state awards from the Capital Project Fund in June 2022, and said that to date, 34 states have been approved to invest approximately $5 billion in internet access projects estimated to reach more than 1.4 million locations.

(Reporting by David Lawder; Editing by Andrea Ricci)