[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/07/02/art.racine.obama.jpg caption="President Obama will announce new funding for broadband projects on Friday."]Washington (CNN) - President Barack Obama on Friday will announce new government investments in 66 projects to expand broadband connections in rural and poor areas across the country.
The $795 million in grants and loans funded by the 2009 economic stimulus act will create 5,000 jobs and generate $200 million in associated private investment, according to information provided by the White House.
"In total, tens of millions of Americans and over 685,000 businesses, 900 health care facilities and 2,400 schools in all fifty states stand to benefit from the awards," the White House said.
The money will bring broadband services to communities that "currently have little or no access, to help them better compete and do business in the global marketplace," the document said.
"With new or increased broadband access, communities can compete on a level playing field to attract new businesses, schools can create distance learning opportunities, medical professionals can provide cost-efficient remote diagnoses and care, and business owners can expand the market for their products beyond their neighborhoods to better compete in the global economy," the White House document said.
Obama will announce infrastructure grants and loans focusing on "middle mile connections" to communities lacking broadband access and "last mile awards" to connect homes, hospitals and schools to their community's broadband infrastructure, the document said.
In addition, the federal money also will fund public computing centers in libraries, community colleges and other public venues, according to the document.