Rochester-based Fibertech (news) has announced a major expansion initiative in Ohio. They’ve long had a substantial metro presence in Columbus, but it has been a rather long time since they paid any other attention to the Midwest.
With anchor tenants in place, they will be building new metro fiber networks in five new markets: Akron, Cincinnati, Cleveland, Dayton, and Toledo — i.e. all five other major metro areas in the state. That will take their current 23 market footprint all the way up to 28. They’ll also be adding substantial depth to their Columbus footprint as part of the same expansion.
Fibertech has been spending the better part of its growth capital on additional depth in its existing markets and in adjacent ones like southern New Jersey. Their expansion to five new markets in the Midwest is a shift in strategy that may foreshadow further territorial expansions in the future. It also suggests that Fibertech isn’t currently tempted by the inorganic opportunities out there. It’s currently cheaper to build than to buy.