The East Central Vermont Fiber Optic Network (ECFiber), based in Royalton is wrapping up its third full year in operation with almost 1,000 paying customers spread across 12 area towns. The ECFiber network now extends along 200 miles of rural Vermont roads, territory that is often unserved by other broadband providers.ECFiber was organized in 2008 and began funding its operation in late 2010 by selling promissory notes to private investors. Since that time, the organization has raised $6.3 million from more than 430 mostly local individuals. Just this year, supporters from Vermont and elsewhere have invested almost $1.5 million.
In the latest closing on December 15th, ECFiber received investments totaling over $500,000. These funds, along with dark fiber provided by the Vermont Telecommunications Authority (VTA) will be used to extend ECFiber’s municipally-owned fiber-optic network into a total for 19 of its 24 member towns in 2015.
For example, in South Woodstock a resident pledged a dollar-for-dollar matching investment of up to $50,000 which inspired other community members to invest $97,500 on their own. Because of the challenge pledge, the total amount earmarked for deployment of ECFiber service in South Woodstock is $147,500.
“This fantastic response by the people of South Woodstock clearly demonstrates the increasing demand for state-of-the-art communications in rural communities,” commented John Roy, ECFiber Treasurer. “It also demonstrates that the business model used by ECFiber to build and expand a municipally-owned network without taxation-based assistance can be successful.” There are currently over 945 subscribers in other ECFiber towns. Revenue from their patronage supports the repayment of interest and principal on the promissory notes.
Part of the $147,500 will be used to extend the fiber-optic trunk being built by the VTA along Route 106 in Reading to the Woodstock town line into the village of South Woodstock, and possibly further up Route 106 towards central Woodstock. From there, spurs will be built into the community connecting as many subscribers as funds permit.
ECFiber is a consortium of 24 towns in East-Central Vermont. Step by step, ECFiber is building a community-owned fiber-optic network to deliver high-speed Internet to every home, business, or civic institution in its territory. ECFiber offers real broadband: symmetrical internet access (same upload as download,) speeds of up to 400 Mbps that do not vary by time of day or according to the weather - as well as phone service with unlimited USA and Canada long distance calling.