Economic development fundraising – the term was new to me until I read Craig Settles latest article in the Daily Yonder. He wisely wards against the dangers of an excuse-driven broadband strategy – a strategy that has become all too popular as so many people wait to hear about the ARRA (and other) broadband funding.

Settles promote a strategy that encourages local investment through economic development fundraising. Here’s a excerpt from his article on how it works:

The concept is simple, really. Rather than look for customers to buy services, build a financial sustainability strategy based on recruiting investors from within the community or communities building the network. “Investors” isn’t a euphemism for “subscribers”; instead, it refers to people who invest more than the price of services in exchange for a piece of the action. In other words, communities need to treat broadband networks as business ventures.

I must admit that I am still a firm believer in getting subscribers who are invested in broadband success rather than investors but I think getting investors who are in it for both the business deal and the community benefits would work as well. Read Settles article for some successful examples that have worked – including our neighbors in Madison, South Dakota.