The White House announced its plans today to award $2 billion in grants and loans over the next 75 days as part of its plan to stimulate job growth and expand high-speed Internet access to all Americans.

"The new broadband access will help underserved and often hard-hit communities overcome the distance and technology barrier by expanding connectivity between educational institutions, enabling remote medical consultations and attracting new businesses as well as the jobs that come with them," the White House said in a statement.

Broadband for America welcomes the announcement, as evidence continues to show that Americans with access to high-speed Internet have better job and educational opportunities.

Vice President Joe Biden will make the formal broadband announcement today during an event in Dawsonville, Georgia, while unveiling initial investment of $182 million for 18 broadband projects in 17 states. The White House also announced that the grants and loans have already been matched by over $46 million in matching private capital investments.

The $2 billion is part of a larger $7.2 billion designated in President Barack Obama's economic recovery package to bring broadband access to underserved communities.