Verizon’s FiOS TV on the Horizon in New Jersey

Verizon’s FiOS TV on the Horizon in New Jersey

Verizon announced today it’s moving ahead with a $1.5 billion investment over the next three years for the construction and deployment of its state-of-the-art fiber network in New Jersey. The announcement came after Gov. Jon Corzine signed into law legislation that streamlines the process for obtaining video franchises in the state.

“New Jersey’s new law allowing us to offer television service in the state provides all the justification we need to go full speed ahead to bring fiber optics directly to customers – something no other company is doing,” said Ivan Seidenberg, Verizon’s chairman and CEO. “Gov. Corzine and the state Legislature deserve full credit for throwing open the door to television competition in New Jersey and new TV choices for consumers in the state.”

As a result of this enhanced deployment, Verizon expects to have its industry-leading video network available to three and-a-half million residents by the end of 2008. The first locations will be opened for sale by the end of this year. “Gov. Corzine’s decision today means New Jersey consumers and businesses are poised to have the nation’s most advanced communications network delivered directly to their front door,” said Seidenberg. “We expect it will lead to hundreds of new video-related jobs for New Jersey residents, and result in millions of dollars in savings for consumers.”

Read the complete Press Release