With a keen understanding of the congestion and lack of diversity around the New York/New Jersey and Florida markets – and the growth of 5G, Internet of Things and the need to get closer to the edge -identifying new, diverse trans-Atlantic subsea connectivity was a clear need for our confidential Client.
Assured Communications (ASSURED) was asked to assist in developing a cable landing site on the east coast in Virginia. A feasibility study was conducted and Assured identified 2-3 potential sites with a long-term solution mindset for expansion into new and/or emerging markets. After identifying several potential solutions, ASSURED was then approached by the local government of Virginia Beach to discuss other economic development opportunities to make Virginia Beach one of the most appealing markets for other cable landing station developments and related technology eco-system(s).
ASSURED worked to create change within the Virginia Beach tax code for companies to be incentivized to land in Virginia Beach, resulting in a 90% decrease in taxable activity for IT companies.
In addition, through the feasibility study done with the client, ASSURED was able to address concerns around sea-level rise and create a model around a mitigation plan. The plan not only addresses the concerns but creates a roadmap for other countries to model who experiences the same challenges with rising sea levels. The lessons learned from Virginia Beach will have a ripple effect on the future development of cable landing stations, creating enhanced solutions and opportunities where they haven’t been considered before.
ASSURED recognized the opportunity to leverage their prior experience in owning and operating mission-critical facilities to own and operate the Virginia Beach CLS. ASSURED is actively pursuing investment partners to finish the development, has a letter of intent from a potential customer, and is in discussions with new and existing customers to ensure the success of the Virginia Beach project.
