ECFiber’s August 1 investment closing has brought its 2012 total to over $1.3 million, all from local citizens. These funds will be used to extend its fiber-optic network to unserved areas of Chelsea, Vershire, Thetford, Norwich, Tunbridge and Strafford. ECFiber estimates that it will more than double its subscriber base in this build-out.
ECFiber has developed an innovative funding method to extend its network, relying largely on local citizens. These funds are interest-bearing loans that enable build-out to local neighborhoods within and across member towns. Anyone able to invest as little as $2500 helps ECFiber reach all households along designated routes. To date, no government or taxpayer monies have been used in this effort.
ECFiber chooses routes that maximize the available funds to reach the greatest possible number of unserved businesses and households. So far ECFiber’s service has reached parts of Bethel, Royalton, Barnard and Pomfret, with construction on-going.
ECFiber is committed to serving 100% of the households, businesses and civic institutions in the 23 member towns. It is extending its network in phases, pursuant to the amount of local funding it is able to raise.
ECFiber is a group of 23 towns working to build a community-owned, subscriber-funded Fiber-to-the-Home network to provide phone, and ultra-high-speed internet services to 100 percent of the homes and businesses in the member towns.
ECFiber 8.14.2012