Economic fundraising is a proven practice that could net a community several million dollars for its broadband buildout if executed properly. Tom DiFiore, who has helped communities nationwide raise over $1.7 billion for economic development projects, shares tips on how to recruit enthusiastic investors from within your city and neighboring areas.

The concept is simple, but be prepared for a lot of hard work. DiFiore explains how to recruit people who’ll invest an amount greater than the cost of broadband services in return for a piece of the action – when that action includes improvements in the local economy. Hospitals, your largest businesses, well-to-do individuals and others with a vested interest in seeing your community’s economy improve are ideal candidates.

As President of National Community Development Services (NCDS), DiFiore finds there are more people and organizations than communities realize that are able and willing to financially support improvements in the local economy. The key is knowing who to ask, how to ask and when to ask.