THUNDER BAY - Last year Tbaytel generated nearly $200 million in revenue and will pay nearly 10 per cent of that total to the City of Thunder Bay.
Tbaytel on Monday hosted its first virtual annual general meeting, where it released its 2019 report to the community.
The report states Tbaytel generated $198.6 million in revenue, with an $18 million dividend going to the city of Thunder Bay.
According to the report, the dividend to the city reduced property taxes by 9.3 per cent. The city also received an additional $568,000 performance dividend. Since its inception in 2004, the Tbaytel Municipal Service Board has paid nearly $300 million in dividends to the city.
“Tbaytel’s financial results demonstrate the positive growth and successes in 2019. This can be attributed to our world class networks and to our dedicated, skilled workforce that is made up of over 400 employees in Thunder Bay and the region” said Tbaytel municipal service board chair Jack Jamieson.
“Our 2019 results are proof of Tbaytel’s continued success and commitment as an employer, a good neighbour, community partner and great service provider for Northern Ontario.”
The report also states that in 2019, Tbaytel also expanded internet coverage in several rural areas, with 25 new areas added to its wireless network.
A multimillion project was also completed, which brought wireless internet to 48 new areas in areas, from Kenora to Heyden.
Fibre technology was also expanded throughout the city of Thunder Bay and 90 per cent of the city is expected to be connected by the end of 2020.
“Along with the opportunity to share our successes over the past year, this community report is a chance for Tbaytel to renew our commitment to our customers and to the communities we serve,” said Tbaytel president and CEO Dan Topatigh.
“As a locally owned and operated business, Tbaytel strives at every level of our organization to make Northern Ontario better. We are proud of the hard work and dedication of all of our employees, executive management team and board of directors found in this year’s community report.”
The Tbaytel for Good sponsorship program also contributed more than $562,000 to 158 organizations in 14 communities in 2019.
