Greenfield-based NineStar Connect is adding to its portfolio. The nonprofit cooperative says it has acquired Gem Water Utility from the town of Cumberland, allowing for further investment in necessary infrastructure to grow the Mt. Comfort Corridor.
NineStar Connect provides water, sewer, electric and high-speed fiber services. The co-op says, as part of the $4 million deal, it plans to build high-speed fiber to each home and business in the Gem Water Utility territory.
Central Indiana Communications Inc., a for-profit subsidiary of NineStar, also plans to build a fiber optic network to connect Cumberland’s municipal facilities, including the town hall, parks and trails.
"The Mt. Comfort Corridor is one of the state’s bright spots of economic growth and activity," Michael Burrow, chief executive officer of NineStar Connect, said in a news release. "Making Gem Water Utility part of the NineStar family enables us to expand our high speed fiber and utility infrastructure, which is essential to the area’s ability to attract and retain this growth."
Cumberland Town Manager April Fisher says the town will use the proceeds from the sale to expand the infrastructure of its wastewater utilities. She says the deal is about economic development and the expansion of high-speed fiber throughout the region will result in more connectivity and opportunities for residents and businesses.