LEXINGTON, Ky. (AP) — A Kentucky city has announced an agreement with an Indiana company that would lead to ultrafast internet service for residents.

Media report Lexington Mayor Jim Gray said the proposed fiber-optic network by MetroNet would transform the community into one of the nation's largest gigabit cities. If the deal gets approval from the Lexington-Fayette Urban County Council, construction could begin early next year and customers could begin signing on by summer.

It would mean significantly faster internet service. Gigabit speed transfers about 1,000 megabits per second. Studies have found that Lexington's average internet speed is 16.2 megabits per second. Gray said the city needs ultra-high-speed internet to attract and keep high-tech jobs.

MetroNet President John Cinelli said the company hasn't yet decided where to begin construction or how much the service will cost.