Nu-Vu funding request approved

Nu-Vu Communications got the news last week it had been eagerly awaiting. And local development officials couldn’t be happier.

The Governor’s Office placed the company on the list to obtain federal broadband stimulus funds from the U.S. Department of Commerce Broadband Technology Opportunities Program. The Governor’s Office prioritized the many requests for the stimulus money.

In an e-mail sent to local development officials, Nu-Vu Communications said its project was approved by the state.

The action means the fledgling company will have the capital to offer broadband services here. The company has said it will initially offer the services to City of Gaffney residents before the services are expanded to other areas of the county

In addition to high-speed Internet, the company plans to offer telephone and television services over fiber-optic lines.

Cherokee County Development Board Director Jim Cook has said the project’s economic impact would be substantial.

“We are talking about a $30 million investment and 60 jobs,” Cook said.

Nu-Vu Communications official Lloyd Williams said his company applied for $32 million in stimulus money to install fiberoptic lines.

The federal government is expected to award the broadband stimulus money later this year, he said.

In April, Gaffney City Council approved Nu-Vu Communications’ request for a franchise agreement. The company was issued the franchise agreement by the South Carolina Secretary of State, which, under state law, has the sole authority to issue franchise agreements.

The company’s business plan shows Nu-Vu Communications has $9 million in assets and $10.29 million in liabilities this year. But the long-range outlook is much brighter, with total assets of $669 million and no debt in 2018.

Gaffney Board of Public Works General Manager Donnie Hardin said Nu-Vu Communications will lease the utility’s fiber optic network but will extend its own fiber optic lines into residences.

Hardin said it’s his understanding the company will eventually offer other telecom services.