Verizon has invested nearly $3.4 billion in New Jersey in capital expenditures between 2010 and 2013 to build out its FiOS fiber optic network and create a robust 4G LTE wireless network.
The investment places Verizon among a small number of companies making large capital investments in the state’s economy.
“The bulk of that investment is in our wireline infrastructure where we are continuing to build out our FiOS network,” said Leecia Eve, Verizon’s vice president for State Government Affairs for New Jersey, New York and Connecticut during a recent presentation before the Alliance for Action.
Nationally, telecommunications leads all other industries in investment, spending more than $46 billion in 2013. Within this group, Verizon excels, Eve said.
Just recently, Verizon was named to the Progressive Policy Institute’s 2014 list of top “Investment Heroes.” Last year, Verizon invested $15.4 billion in the U.S., more than Exxon Mobil, Chevron and Walmart.
The investments come despite a challenging environment as customers either sign up with a competitor or “cut the cord,” eliminating their land line in favor of their wireless devices.
Between 2003 and this year, Verizon lost more than 3.8 million landlines in New Jersey, a reduction of 72 percent.
Nevertheless, there is still exceptionally strong demand for Verizon’s award-winning, all-fiber FiOS service, which offers high-speed internet and high-definition video.
Verizon FiOS service is available in 358 towns in New Jersey covering more than 2.4 million premises in New Jersey.
Eve said Verizon is continuing its investment in FiOS by focusing on completing its build-out in the state’s 70 most densely populated municipalities by 2015, as required by state law.
Eve said Verizon is competing with companies, including cable operators, wireless providers and voice-over-internet protocol providers, which are operating free from regulation.
“Yet Verizon is unfairly burdened by rules that are appropriate only for monopoly service providers,” Eve said. “For a state that prides itself on innovation, this is just not acceptable.”Read more...
Leecia Eve, Verizon's vice president for State Government Affairs for New Jersey, New York and Connecticut, wrapped up her third and final 2014 state of the company presentation for local business, community, and government leaders from across New Jersey on December 4th at Verizon’s operations center in Livingston.
A team of Verizon employees responded to the Edgewater Community Center following a devastating five-alarm blaze in the borough on January 21 that forced more than 1,000 to flee their homes.
Verizon New Jersey’s predecessor – New Jersey Bell - opened its headquarters on Broad Street in Newark in 1929 – launching many decades of community service to the people of the city and Essex County. That mission continues today, as Verizon has partnered with Habitat for Humanity Newark to help hard-working families obtain the goal of home ownership.
In December, 50 volunteers from 13 organizations, including Verizon employees and their families, gathered at Verizon’s operations center in Livingston for an “Adopt A Unit” pack-up, where volunteers collected and packed items for “Comforts of Home” holiday packages destined for troops deployed overseas.
The William J. Hughes Center for Public Policy received a $10,000 grant from the Verizon Foundation to train social studies teachers to use web-based tools to increase the civic knowledge of students in grades K-12.
Rising Tide Capital, a small business support service, has received a $40,000 grant from HopeLine® from Verizon and the Verizon Foundation to fund the “Community Business Academy.”
Verizon is pleased to announce that John P. Szeliga, External Affairs Field Director, has been named the 2013 Citizen of the Year by the Woodbridge New Jersey Metro Chamber of Commerce. Szeliga was selected for the Chamber's highest honor based on his exemplary leadership and outstanding service to the Chamber and to the community at large.Read more...
More than 200 small-business owners and community leaders from across northern New Jersey gathered September 18 at Saint Peter’s University for a “Sustainability and Small Business Summit,” featuring a series of panel discussions with industry experts to educate small business owners on how to make sustainability a part of their business strategy, reducing costs and increasing profits.Read more...
Leecia Eve, the vice president for state government affairs for New Jersey, New York and Connecticut, has launched a tour this fall of the Garden State to deliver Verizon's State of the Company address.
The tour kicked off on Sept. 23 at the Adelphia Restaurant in Deptford, where Eve spoke to more than 100 business executives, nonprofit representatives and other community stakeholders about Verizon’s transformation from a phone company to an innovation powerhouse. It was followed up by a second presentation on Oct. 22 in New Brunswick in conjunction with the Middlesex County Regional Chamber of Commerce.
In tough economic times like these, people who hover below or just above the poverty line are hurting the most. Every dollar means a lot. It’s for people like those that Verizon’s Communication Lifeline service is available in New Jersey.
Communications Lifeline offers eligible consumers a service package that includes discounted residential phone service, including Touch-Tone service, ranging from zero to $1.95 per month; opportunities to add optional features, like Caller ID, Three-Way Calling, and more; and a choice of three different local service options.Read more...
Verizon Community Update, the online newsletter of Verizon New Jersey, is designed to advise and inform leaders throughout New Jersey about the programs and initiatives undertaken to support and strengthen communities throughout the state. Please feel free to contact us with your comments.
Donnett Verley, Editor