Feb 2, 2021
5G Promises Massive Job and GDP Growth in the U.S .
Over the past few years, America’s wireless industry has built 5G networks across the country, constructing a platform for economic growth and innovation that will create jobs and industries and help rebuild the U.S. economy.
According to new research from Boston Consulting Group, in collaboration with CTIA, 5G deployment will contribute $1.5 trillion to U.S. GDP and create 4.5 million jobs in the next decade. This growth will occur directly through infrastructure investment and indirectly by enabling innovation that transforms all sectors of the economy.
5G Jobs and Technologies Will Help Solve America’s Challenges
5G will influence and enable the industries and technologies of the next decade, from telehealth and remote surgery to efficient smart energy grids and from immersive, virtual reality learning experiences to connected cars that reduce congestion and increase safety.
These are the jobs and technologies that will help us address our country’s biggest challenges, like climate change, educational inequities, and access to health care — issues that often harm marginalized communities the hardest.
The 5G Economy Will Bring Economic Benefits to Communities Big and Small
This 5G-powered transformation of our economy will happen across the country, including big cities and smaller communities. We’re talking about tens of thousands of new jobs in places like Nashville and Charlotte, and tens of billions in GDP growth in place like Kansas City and Seattle.
With these benefits flowing for the next generation of wireless connectivity, we also need to ensure all Americans benefit from the 5G Economy. That means closing the digital divide. Wireless is already the broadband on-ramp for millions of Americans, but policymakers and industry must work together to drive more adoption.
Policymakers Play a Critical Role in Enabling a Successful 5G Economy
Keeping our 5G deployment on track is key to enabling these economic and technological benefits, jumpstarting America’s economic recovery, and solving the challenges facing our country.
Each six-month delay could mean a loss of $25 billion in benefits and threaten the U.S.’s competitive and technological advances in the industries of tomorrow.
To make sure the U.S. realizes the full benefits of the 5G Economy, policymakers should:
- Free up more mid-band spectrum. Despite good progress made in the past two years, the U.S. still trails key rivals on licensed mid-band spectrum for 5G. To close the gap, the United States will need to roughly double the amount of licensed mid-band available for commercial use made available in the past two years. That means clearing the C-band on schedule, moving forward with a timely 5G-optimized auction of the 3.45-3.55 GHz band by the end of the year, and adopting a clear pipeline of future licensed spectrum auctions.
- Encourage 5G infrastructure deployment. Policymakers should build on recent federal and state reforms to further help the wireless industry roll out 5G networks quickly, efficiently, and to more Americans.