| Category | Amount | Share of Total |
|---|---|---|
| BEAD Federal Support | $18.73B | 61.3% |
| ISP (Subgrantee) Match | $11.37B | 37.2% |
| State Match | $390M | 1.3% |
| Federal Match | $48M | 0.2% |
| Other Match | $30M | 0.1% |
| Total | $30.57B | 100% |
Private Investment Is Amplifying BEAD’s Public Broadband Dollars
BEAD
funding
BEAD is driving significant private-sector broadband investment, with ISPs contributing more than $11 billion in matching funds. ISP funding comprises about 37% of total project cost, substantially exceeding the program’s 25% matching requirement. This is a paradigmatic public-private partnership: NTIA is responsibly leveraging taxpayer dollars in support of network expansion by established ISPs.
Key Takeaways
- Across 54 states and territories, BEAD has catalyzed $30.6 billion in total broadband investment.
- ISPs are contributing $11.4 billion in matching funds, or 37.2% of total project costs.
- 51 of 54 states and territories have match rates at or above 25%.
- Match commitments scale with provider size: established national ISPs match 49% of project costs, compared to 28% for small/regional ISPs.
- These significant contributions of capital by established ISPs mirror their long-term and ongoing commitment to enhancing their networks. On average over the last 5 years, ISPs collectively invested in excess of $90 billion annually.
- In the BEAD context, these matches, which far exceed the 25% minimum, further underscore the depth of commitment by established ISPs to continue expanding their networks to serve as many people as possible.
National Summary
The BEAD program requires subgrantees (typically ISPs) to contribute matching funds toward project costs. The table below shows how total investment breaks down nationally.
The ISP match alone, $11.4 billion, represents the vast majority of non-federal investment, underscoring the scale of private-sector commitment to closing the digital divide.
Match Rates by ISP Footprint
The table below groups subgrantees by the size of their existing broadband footprint, measured by locations reported to the FCC’s Broadband Data Collection, to show how match commitments scale with ISP size.
| Tier (Locations in FCC Data) | Providers | BEAD | ISP Match | ISP Match % |
|---|---|---|---|---|
| Small/Regional (<250k) | 376 | $7.85B | $3.20B | 28.3% |
| Large (250k–2M) | 30 | $2.20B | $1.16B | 34.5% |
| National (≥2M) | 12 | $6.18B | $6.06B | 49.3% |
| Residual (no FCC footprint match) | 83 | $2.50B | $946M | 26.4% |
12 national ISPs alone committed $6.1 billion in matching funds — more than every other BEAD subgrantee combined. At close to half of project costs in that tier, these established carriers are matching well above the 25% statutory minimum.
NoteAbout the ISP Crosswalk
BEAD funding flows through a patchwork of legal entities. A single national ISP often files under many subsidiary names across the country, and the public BEAD data identifies each primarily by a unique government identifier rather than a familiar brand name. Without a way to link these entities together, the data shows hundreds of disconnected awards rather than the actual companies behind them.
To address this, we built a crosswalk that connects each BEAD subgrantee back to its parent ISP brand and to that ISP’s existing broadband footprint. The crosswalk allows us to consolidate awards across subsidiaries, compare new BEAD-funded deployments to each provider’s current service area, and identify which providers are contributing the most matching capital alongside the federal support.
Top ISPs by Matching Contribution
The table below shows the 20 ISPs contributing the most in matching funds. Several of these ISPs have matching rates exceeding the subgrantee match average of 37.2%.
| ISP | States | BEAD Support | ISP Match | Total Investment | Match % |
|---|---|---|---|---|---|
| Xfinity | 34 | $1.68B | $2.03B | $3.71B | 54.8% |
| AT&T | 19 | $1.01B | $1.51B | $2.52B | 59.9% |
| Starlink | 46 | $686M | $797M | $1.48B | 53.7% |
| Brightspeed | 18 | $559M | $488M | $1.05B | 46.9% |
| Verizon | 7 | $227M | $384M | $611M | 62.9% |
| Shawnee Telephone Company | 4 | $781M | $316M | $1.10B | 28.8% |
| Frontier | 12 | $646M | $265M | $923M | 30.0% |
| Wisper ISP, LLC | 3 | $378M | $239M | $617M | 38.7% |
| Spectrum | 15 | $464M | $232M | $702M | 34.0% |
| ZiTEL | 6 | $147M | $187M | $334M | 56.0% |
| Wecom Fiber | 1 | $196M | $167M | $363M | 46.1% |
| Fidium Fiber | 7 | $97M | $161M | $258M | 62.4% |
| Surf Internet | 3 | $169M | $146M | $316M | 46.3% |
| Swyft Connect | 2 | $420M | $140M | $559M | 25.0% |
| CoreConnect (CocoNet Inc.) | 1 | $91M | $121M | $211M | 57.1% |
| Mediacom Xtream | 8 | $163M | $110M | $273M | 40.2% |
| Conexon Connect LLC | 8 | $226M | $109M | $335M | 32.5% |
| Astound Broadband | 4 | $387M | $98M | $518M | 25.2% |
| AMAZON KUIPER COMMERCIAL SERVICES LLC | 27 | $302M | $96M | $397M | 24.1% |
| Windstream Western Reserve, Inc. | 7 | $184M | $94M | $279M | 33.9% |
State Breakdown
The table below shows BEAD investment and match rates for all 54 states and territories.
| State | BEAD Support | ISP Match | Total Match | Total Investment | Match % |
|---|---|---|---|---|---|
| AK | $629M | $72M | $72M | $701M | 10.3% |
| AL | $480M | $422M | $428M | $908M | 47.2% |
| AR | $308M | $107M | $107M | $416M | 25.8% |
| AS | $8M | $3M | $3M | $11M | 25.0% |
| AZ | $446M | $519M | $519M | $965M | 53.8% |
| CA | $1.57B | $928M | $929M | $2.50B | 37.1% |
| CO | $421M | $166M | $217M | $638M | 34.0% |
| CT | $7M | $3M | $3M | $10M | 26.3% |
| DC | $996,099 | $332,033 | $332,033 | $1M | 25.0% |
| DE | $13M | $75M | $75M | $88M | 84.8% |
| FL | $230M | $246M | $246M | $476M | 51.7% |
| GA | $310M | $520M | $520M | $830M | 62.7% |
| GU | $2M | $3M | $3M | $5M | 63.4% |
| HI | $31M | $6M | $10M | $41M | 25.0% |
| IA | $182M | $106M | $106M | $288M | 36.8% |
| ID | $426M | $192M | $202M | $628M | 32.1% |
| IL | $936M | $574M | $576M | $1.51B | 38.1% |
| IN | $483M | $385M | $385M | $868M | 44.3% |
| KS | $167M | $61M | $61M | $228M | 26.9% |
| KY | $367M | $238M | $238M | $605M | 39.4% |
| LA | $499M | $365M | $365M | $864M | 42.3% |
| MA | $19M | $9M | $9M | $28M | 33.3% |
| MD | $79M | $73M | $73M | $152M | 47.9% |
| ME | $48M | $109M | $109M | $158M | 69.3% |
| MI | $917M | $558M | $558M | $1.47B | 37.8% |
| MN | $392M | $191M | $191M | $582M | 32.7% |
| MO | $792M | $426M | $426M | $1.22B | 35.0% |
| MP | $31M | $22M | $22M | $53M | 41.2% |
| MS | $567M | $350M | $350M | $917M | 38.2% |
| MT | $304M | $145M | $145M | $449M | 32.3% |
| NC | $409M | $358M | $358M | $766M | 46.7% |
| ND | $6M | $2M | $2M | $8M | 25.0% |
| NE | $45M | $21M | $21M | $66M | 32.4% |
| NH | $19M | $25M | $25M | $44M | 57.5% |
| NJ | $64M | $151M | $151M | $215M | 70.4% |
| NM | $382M | $147M | $153M | $535M | 28.6% |
| NV | $170M | $32M | $32M | $202M | 16.1% |
| NY | $287M | $248M | $255M | $542M | 47.0% |
| OH | $261M | $197M | $197M | $458M | 43.1% |
| OK | $428M | $146M | $146M | $574M | 25.5% |
| OR | $588M | $348M | $354M | $942M | 37.6% |
| PA | $791M | $712M | $714M | $1.50B | 47.5% |
| RI | $16M | $10M | $10M | $26M | 37.8% |
| SC | $41M | $38M | $38M | $80M | 48.0% |
| SD | $73M | $19M | $19M | $91M | 20.3% |
| TN | $202M | $199M | $200M | $402M | 49.8% |
| TX | $1.26B | $418M | $595M | $1.85B | 32.1% |
| UT | $207M | $122M | $122M | $330M | 37.1% |
| VA | $545M | $429M | $429M | $975M | 44.1% |
| VT | $93M | $35M | $70M | $163M | 43.0% |
| WA | $736M | $163M | $284M | $1.02B | 27.8% |
| WI | $697M | $397M | $397M | $1.09B | 36.3% |
| WV | $546M | $200M | $240M | $785M | 30.5% |
| WY | $198M | $71M | $71M | $270M | 26.4% |
Methodology
This analysis uses project-level data from NTIA’s BEAD Initial Proposal submissions, covering 54 states and territories with approved, submitted, or draft proposals. Funding figures are summed from 6,500 individual project records. “ISP Match” refers to the subgrantee match field, the matching contribution committed by the subgrantee (typically the ISP deploying the network). “Total Match” also includes state, federal, and other matching sources.
For the top ISPs list, ISPs are consolidated by corporate subsidiary. Of 501 total BEAD subgrantees, 420 are matched to a consolidated provider.