GWI is the provider of fiber optic internet service in Maine and the state’s first Internet Service Provider to be certified as a B Corp. for meeting higher standards of transparency, accountability and performance.

Arctaris, a Boston-based impact investment firm that provides growth capital to businesses and infrastructure in underserved regions, will be funding the projects using Opportunity Zone equity capital. Arctaris is deploying a similar program in Colorado and it plans to replicate that model in additional locations nationwide.

In total, GWI and Arctaris will build over 240 fiber-optic route miles and the networks will pass over 12,000 residential and business premises.

The networks will cover significant portions of Belfast and South Portland , including opportunity zones, that also encompass the economically distressed areas constituting the first phase of subsequent projects. The network will cover all premises in Millinocket, East Millinocket and Medway.

GWI has already started the design work and is progressing to constructing the network starting in the next couple of months with goals to begin turning up customers in early 2023; detailed coverage maps will be posted on the GWI website in the forthcoming several weeks.

“As a member of the Belfast City Council and Broadband Committee, it has been very clear for several years, even before the Covid pandemic, that broadband infrastructure is more important today than providing electricity to all communities was last century,” said Belfast City Councilor Mary Mortier, in a news release. “We have been working on finding the right longterm solution for Belfast, to provide universal hi-speed internet connectivity to our residents and businesses. We believe fiber-optic service to the premise is the future proof pathway to successfully realize our goal of giving all of our community members the opportunity to be able to fully participate in the world we live in today and tomorrow, whether it’s related to education, healthcare, employment opportunities or recreation. We believe that our choice of GWI to provide this key infrastructure buildout in two phrases, along with their dedication to obtaining B Corporation status shows exceptional commitment to their current and future customers in Belfast.”

In December 2020, FAME approved a request by Arctaris for 20% leveraged loan insurance on $9.5 million of funding to construct the dark fiber networks in South Portland and Belfast.

Arctaris Broadband Company, LLC a wholly owned and operated portfolio company of the Arctaris Opportunity Zone Funds, will act as the distribution agent and lessor owning the network. GWI will serve as lessee and build and operate the fiber network in both cities.

A $1 million FAME Direct Loan was approved as well, and will be used for post-construction capital expenditures and working capital.

About GWI 

Founded in 1994 and headquartered in Biddeford, GWI (www.gwi.net) is a Maine owned and operated Internet Service Provider (ISP), serving residential and business customers and is an advocate for the expansion of high speed internet access in the state. The first broadband carrier in the nation to become B Corporation certified, GWI is an industry leader in designing, constructing, funding, and operating high-speed fiber networks. 

About Arctaris Impact Investors 

Arctaris Impact Investors, LLC is a Boston-based impact investment firm with experience spanning more than 13 years and six funds, with both debt and Opportunity Zone equity investments. The firm manages funds that invest in growth-oriented operating businesses and community infrastructure projects located in underserved communities. Founded in 2009, Arctaris has partnered with the Kresge Foundation, Harvard Business School Professor Michael Porter’s Initiative for a Competitive Inner City, and multiple other foundation, federal and state government agencies to invest in Opportunity Zones, inner cities, and targeted rural communities throughout the U.S., with the aim of delivering above-market investment returns alongside positive social impact. For more information visit www.arctaris.com.

About FAME 

The Finance Authority of Maine (FAME) is a quasi-independent state agency that provides innovative financial solutions to help Maine citizens pursue business and educational opportunities. FAME helps to lead the creation of good paying jobs for Maine citizens by working at the nexus between economic and workforce development. To learn more about FAME, visit www.famemaine.com