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Waveland Community Development Allocates $24 Million New Market Tax Credits to GCI Terra



ALASKA - Waveland Community Development is pleased to announce that we have allocated $24 million in New Market Tax Credits to GCI Terra ("GCI").  GCI is the largest integrated telecom company in Alaska, having provided cellular service to over 100 rural communities in the past year alone. This project will make broadband available for the first time to over 9,000 households and nearly 750 businesses. GCI will also serve numerous public, non-profit and private community institutions and entities, such as regional healthcare providers, school districts and other regional and Alaska Native organizations. Construction is being managed by United Utilities, Inc. (UUI), and is expected to be completed this year.   

 

This project is expected to generate over 1,200 jobs  in rural Alaska.

 

Alaska Growth Capital, Travois New Markets, and U.S. Bank also participated in this transaction

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