Tbaytel releases 2023 Community Report, Announces Dividend to city of $18 Million

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Tbaytel Headquarters

THUNDER BAY – NEWS – Tbaytel has released The Future is Now: 2023 Report to the Community. The report highlights key accomplishments from the past year, Tbaytel’s strategic direction and summarizes financial information.

It also highlights a number of network and product enhancements as Tbaytel continues to make strategic decisions and investments to bring the latest in telecommunications technology to northern Ontario.

“From expanding Tbaytel Fibre to more urban, rural and regional communities than ever before to our continued rollout of Tbaytel 5G, last year proved that the future is now for Tbaytel and our region,” says Tbaytel President and CEO Dan Topatigh.

“With a dedicated workforce committed to providing exceptional customer experiences combined with strong network and financial performance and the trust of our customers, Tbaytel looks forward to another great year in 2024.”

More than $219 million in revenue was earned for 2023 demonstrating the strong support Tbaytel has from its loyal customer base, which directly correlates to a fixed dividend of $18 million to the city of Thunder Bay that ultimately reduces local property tax bills by approximately 8.24 per cent.

Since its inception in 2004, Tbaytel has returned $375.9 million in dividends to the city. Along with this exceptional financial performance, in total Tbaytel made a direct economic impact of $146 million in northern Ontario last year.

In 2023, the Tbaytel for Good program, designed to support organizations, not-for-profits, and people making a difference in our communities, contributed close to $532,000 to organizations and events across northern Ontario. Coupled with employee volunteer hours, these financial contributions supported some major events like Wake the Giant in addition to local organizations like the United Way and Our Kids Count.

This past year saw Tbaytel continue to bring its products and services to more people than ever before as it expanded 5G within Thunder Bay and introduced it in Dryden and Kenora with planned expansion for the city and regional communities throughout 2024. Along with welcoming the community of Terrace Bay to areas we service with Fibre, Tbaytel brought Fibre to 20 areas in our region in 2023, adding 2,660 addresses to our Fibre footprint including the federally-funded Lakehead Regional Municipal Coalition project, which will see expansion into the Township of Conmee, Township of Gillies, Township of O’Connor, Municipality of Neebing, Municipality of Oliver Paipoonge, and the Municipality of Shuniah by 2025.

“After more than a decade of strategic capital investments and sound network planning, Tbaytel is proud to be able to bring the future to northern Ontario,” said Tbaytel Municipal Board Chair Scott Potts.

“I would like to thank Tbaytel’s President & CEO, the executive management team, our board of directors and all Tbaytel employees for their hard work and commitment.”

To view or download Expanding with The Future is Now: 2023 Report to the Community please visit tbaytel.net/communityreport

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