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Home » Intermax raises $60M for rural fiber networks

Intermax raises $60M for rural fiber networks

Projects are underway in north Kootenai County

September 26, 2024
Karina Elias

Intermax Networks, a Coeur d'Alene-based rural internet service provider, has raised a combined $60 million in private and public funds over the past five years that will help the company deliver fiber-optic infrastructure to underserved Inland Northwest communities, says company CEO Mike Kennedy. 

Projects are underway in the north Kootenai County communities of Spirit Lake, Brookshire Estates, Twin Lakes Village, and areas along Idaho Route 54, Kennedy says. Intermax plans to deliver fiber-optic infrastructure to nearly 10,000 new residential addresses over the next 18 months. 

“Whether it’s a residence or business, we’re going to be passing by both and offering a service to everybody,” Kennedy says. 

Intermax Networks, a tradename for NewMax LLC, has secured $30 million in funds from the Federal Communications Commission’s Connect America Fund, CARES Act funding, and Idaho's Capital Projects Fund. The company also has raised matching funds totaling $30 million from private sources since 2020. 

Kennedy says the Connect America Fund is a 10-year program started in 2019 that pays out monthly installments over 120 months. The remaining five years of the program will be dedicated to maintenance, he says. 

“Our growth is being invested back into building out further,” he adds. 

Intermax Networks was founded in Sandpoint in 2001 and is headquartered in Coeur d’Alene, at 7400 N. Mineral Drive. Its focus is serving hard-to-reach, underserved areas, and its service area includes parts of North Idaho, Eastern Washington, and Central Washington. 

Last month, the company completed new fiber projects in Kootenai and Bonner counties in North Idaho. As reported by the Journal of Business, the company expanded its coverage area into Lincoln County, Washington, in October, providing internet access to residents, businesses, and institutions in the communities of Almira, Creston, and Harrington. 

“Nationwide service providers have neglected hard-to-reach areas and rural communities,” Kennedy says. “Our friends and neighbors deserve better, and we’re excited to build fast, affordable connectivity that unlocks opportunities in entertainment, education, telemedicine, and remote work.” 

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