The business division of Time Warner Cable is planning to invest $25 million this year to expand its fiber-optic network to businesses in New York City.
The company is sinking funds into New York in order to serve such business locations as Brooklyn Tech Triangle, the Brooklyn Army Terminal and Industry City.
Time Warner Cable Business Class on Tuesday made the announcement at the Brooklyn Navy Yard headquarters of the Hispanic Information and Telecommunications Network, where the communications company is completing a multimillion-dollar investment to provide fiber-based solutions to tenants of the 300-acre business complex.
"HITN is one of the complex's first fiber clients and is utilizing the technology to improve and enhance its overall business operations, as well as to transport and deliver its online and television-based educational programming to viewers across the U.S. and Puerto Rico," Time Warner Cable announced.
Time Warner Cable has been reporting significant growth in its business services revenues, which totaled $893 million through the first six months of the year. That's up nearly 33 percent from $673 million in the same period the year prior. Its peer, Comcast, also has seen its business revenues grow significantly.
Time Warner Cable also revealed plans to provide a state-of-the-art technology center, or "Learning Lab," at the Brooklyn Navy Yard. Providing the public with free access to computers and high-speed Internet service, the lab is expected to open later this year and will be part of the Navy Yard's onsite Employment Center, Time Warner Cable said.
Time Warner Cable serves about 450,000 business customers today.