President Barack Obama on Monday signed a memorandum to nearly double the amount of federal and commercial spectrum available for smartphones and wireless Internet devices.

The move is aimed at spurring investment, economic growth and job creation as demand for broadband surges with the boom in wireless Internet devices such as iPhones, BlackBerrys and laptops. Obama said in a statement that “few technological developments hold as much potential to enhance America’s economic competitiveness, create jobs and improve the quality of our lives as wireless high-speed access to the Internet.”

The memorandum directs federal agencies to find ways to free up 500 megahertz of airwaves for consumer mobile broadband services over the next 10 years. While the directive applies to all federal agencies and may take years to fully realize,  some areas may have spectrum ripe for freeing. One such agency is the National Oceanic and Atmospheric Administration, according to an administration official.

Lawrence Summers, director of the White House National Economic Council, was expected to detail the presidential memorandum in a speech Monday.

“This initiative will catalyze private-sector investment, contribute to economic growth and help to create hundreds of thousands of jobs,” Summers is expected to say, according to excerpts of his remarks.

A key part of the move will also be to help build a nationwide interoperable mobile broadband network for public safety, the administration official said.