Political Boost for Terremark

It's always nice to have local politicians help tout the value of an Internet facility. It's even nicer when that politican's brother is the Leader of the Free World. Governor Jeb Bush of Florida turned out Monday to help publicize the strategic importance of Terremark's NAP of the Americas in Miami, which is housed in the mammoth Technology Center of the Americas (TECOTA).

It remains to be seen if political starpower can put a dent in the telecom slowdown, but yesterday's event helped focus attention on one of Miami's Internet assets. Gov. Bush, brother of President George W. Bush, got a tour of the TECOTA facility and spoke in support of the development of South Florida as an Internet connectivity hub.

"The NAP of the Americas is a unique asset that further solidifies Florida's position as the Gateway to Latin America," said Governor Bush. "As the Internet continues to become the backbone of the international economy, Florida's natural geography and IT infrastructure has given us the opportunity to be the hi-tech link between the United States, our neighbors to the South, Europe and the rest of the world."

The event highlighted Terremark initiatives to create similar Internet hubs in Madrid and Brazil, modeling those efforts after the NAP of the Americas. "As we continue our expansion plans to key Internet hub cities around the world, the NAP of the Americas in Miami remains the prime catalyst and the model for Terremark's growth and development globally," said Terremark chairman and CEO Manuel D. Medina.

Telecom industry veterans have been impressed with the infrastructure at TECOTA, but also wonder aloud about the prospects for such a huge facility in the current market. Global Crossing leased an entire 150,000 square foot floor, but is in bankruptcy. Sprint and the NAP (which occupies the entire second floor) are the other tenants.

Terremark, for its part, is staying busy trying to bring its ambition to fruition. The company just completed a $5 million sale of common stock to its Madrid partners. And when it comes to connectivity, fiber is great, but knowing a Bush or two can't hurt either.