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Verizon’s 5G network is advancing Indy’s tech economy

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Indianapolis is widely recognized as a major player in the U.S. high-tech sector, especially when compared to other cities of its size. It’s no surprise Verizon chose Indianapolis to be one of the first cities in the country to experience Verizon’s cutting-edge 5G network. As Verizon continues to invest in and deploy its 5G network here, the city’s tech future is looking even brighter.

Technology is Indiana’s fastest-growing major industry, supporting 185,000 jobs—nearly 6% of the state’s total workforce. About 75,000 of those jobs are in the Indianapolis metro area, a figure up more than 70% since 2010. The tech sector contributes about $9.3 billion to the state economy and creates jobs with salaries that average above $71,000, far higher than the overall state median wage.

High-speed wireless broadband has become an essential, basic building block for any company, especially for those in the tech sector. Verizon’s 5G technology is helping Indianapolis cement its status as one of the nation’s leading tech and business hubs. Verizon’s 5G Ultra Wideband network delivers ultra-fast speeds, ultra-low latency, and massive capacity to support millions of connections throughout the Indianapolis area.

But Verizon’s contributions to Indianapolis and the state go far beyond network investments. Verizon is a thought leader in the Indiana tech space, avidly supporting local initiatives that promote accelerated deployment and commercialization of the broadband network. Verizon is a founding member of the Indiana 5G Zone, which supports the development and testing of new technologies, products, and service applications, in addition to providing access to shared spaces for programming and events.

Verizon is taking responsibility for our shared future, having dedicated substantial resources toward economic, environmental and social advancement. The company’s social responsibility plan called Citizen Verizon includes amongst other things providing youth with digital skills training as well as preparing individuals for jobs of the future. To that end, Verizon has demonstrated a strong commitment to supporting hands-on STEM learning programs as well as access to tech and connectivity especially in underserved communities.  Moreover, Verizon supports local workforce development programs focused on reskilling and upskilling individuals most vulnerable in the future economy, while collaborating with employers in the tech industry to meet current talent needs.

During the pandemic, Verizon has stepped up to help Indiana businesses and families. As part of Verizon’s nationwide program to help small businesses, 25 Indiana small businesses (including 21 in Indianapolis) each received $10,000 Verizon grants to help them weather COVID-related challenges. The company also contributed to a variety of summer meal assistance programs, supporting various food banks and local assistance programs both in the city and throughout the state. For the past two years, Verizon has been the presenting sponsor of the Indy Parks’ Summer Meal Service program, which provides nearly 400,000 meals to food-insecure families. In recognition of efforts like these, Forbes ranked Verizon No. 1 out of the 100 largest employers in the U.S. for the company’s response to the public health crisis.

But of all the ways Verizon supports Indianapolis and greater Indiana, its most significant long-term impact will stem from its deployment of Verizon’s 5G network. Investing and building the 5G network will add an estimated $533 billion to the U.S. GDP and generate a projected $1.2 trillion in long-run consumer benefits. Indiana stands to see more than $5 billion in new investment, a $10 billion jump in state economic output, and the creation of 8,700 jobs if 5G is fully deployed. Verizon continues to build the future of Indiana to help ensure that Indianapolis maintains its status as one of the premiere tech hubs in America.