Alaska-Canada Rail Link Economic Benefits

Construction of the 1,740 km Alaska-Canada Rail Link (ACRL) between Fort Nelson, BC and Delta Junction, Alaska to join the North American rail system to the Alaska Railroad will result in tremendous economic benefits for Canada and the US. The ACRL will provide valuable additional east-west rail capacity and tidewater access to the Pacific, hugely benefitting not only the Yukon and Eastern Alaska regions, into which it will introduce rail transport for the first time, but throughout both countries. The economic benefits of ACRL construction are consistent with Canadian government’s desire to promote Northern development and comparable in significance to those of Canadian Pacific Railway in the 1880’s and the St. Lawrence Seaway in the 1950’s. Construction of the ACRL alone will bring unprecedented economic stimulus to the region in terms of job creation, wages and income tax revenue over multiple years. Table 7-1 below summarizes the benefits from ACRL construction for the Yukon, BC and Canada as a whole. However, these estimates are conservative as they exclude benefits associated with pre-construction activities, railway operation post-construction, sales taxes and corporate taxes as well as all such benefits that will accrue to Alaska and the US

Does venture capital investment really require spatial proximity? An empirical investigation

We examine the role of spatial proximity for Venture Capital (VC) investments in Germany. The main database is a survey of 85 personal interviews with representatives of different types of financial institutions. The analysis shows that spatial proximity is far less important for VC investments than is often believed. For example, the results indicate that syndication is partly used as an alternative to spatial proximity. Telecommunication does not work as a substitute for face-to-face contact. On the whole, regional proximity is not a dominant factor in VC partnerships. Therefore, the absence of VC firms in a region does not appear to cause a severe regional equity gap. --Venture Capital,spatial proximity,start-up financing

Public venture capital in Germany: task force or forced task?

This paper deals with the question of whether public venture capital (VC) is performing its task properly, taking a look at how public VC companies' selection process, investment behavior, and consulting services reflect goals that differ from those of private VC firms. The results present evidence that public VC firms deliver a different market segment than their private counterparts; for example, their selection process and syndication behavior reveal their predominant goal of promoting the local economy. Although the results indicate that public VC firms are doing what is expected of them, the analyses provide evidence that public intervention should be reconsidered. --Venture Capital,start-up financing,public intervention

Climate change impacts on water for irrigated horticulture in the Vale of Evesham. Final Report

This project has undertaken a scoping review and assessment of the impacts of climate change on irrigated horticulture in the Vale of Evesham, an area of intense irrigated production located within the Environment Agency’s Warwickshire Avon CAMS Catchment. The research was based on a combination of methodologies including desk-based review of published and grey literature, computer agroclimatic and water balance modelling, GIS mapping, meetings with key informants and a stakeholder workshop. Future climate datasets were derived from the latest UK Climate Impacts Programme (UKICIP02) climatology, using selected emission scenarios for the 2020s, 2050s and 2080s. These scenarios were then used to model and map the future agroclimatic conditions under which agriculture might operate and the consequent impacts on irrigation need (depths of water applied) and volumetric demand. This was complimented by a postal survey to abstractors and a stakeholder workshop, to identify, review and assess farmer adaptation options and responses. The key findings arising from the research, implications for water resource management and recommendations for further work are summarised below. Using a geographical information system (GIS), a series of agroclimate maps have been produced, for the baseline and selected UKCIP02 scenario. The maps show major changes in agroclimate within the catchment over the next 50 years. The driest agroclimate zones are currently located around Worcester, Evesham, Tewkesbury and Gloucester, corresponding to areas where horticultural production and irrigation demand are most concentrated. By the 2020s, all agroclimate zones are predicted to increase in aridity. By the 2050s the entire catchment is predicted to have a drier agroclimate than is currently experienced anywhere in the driest parts of the catchment. This will have major impacts on the pattern of land use and irrigation water demand. Cont/d

Specification of vertical semantic consistency rules of UML class diagram refinement using logical approach

Unified Modelling Language (UML) is the most popular modelling language use for software design in software development industries with a class diagram being the most frequently use diagram. Despite the popularity of UML, it is being affected by inconsistency problems of its diagrams at the same or different abstraction levels. Inconsistency in UML is mostly caused by existence of various views on the same system and sometimes leads to potentially conflicting system specifications. In general, syntactic consistency can be automatically checked and therefore is supported by current UML Computer-aided Software Engineering (CASE) tools. Semantic consistency problems, unlike syntactic consistency problems, there exists no specific method for specifying semantic consistency rules and constraints. Therefore, this research has specified twenty-four abstraction rules of class‟s relation semantic among any three related classes of a refined class diagram to semantically equivalent relations of two of the classes using a logical approach. This research has also formalized three vertical semantic consistency rules of a class diagram refinement identified by previous researchers using a logical approach and a set of formalized abstraction rules. The results were successfully evaluated using hotel management system and passenger list system case studies and were found to be reliable and efficient

The Regional Supply of Venture Capital - Can Syndication overcome Bottlenecks?

We investigate whether the supply of venture capital (VC) is driven by spatial proximity between a VC company and the portfolio firm. Our analysis is based on information about VC investments in Germany between 2004 and 2009. We find that possible problems caused by the geographic distance to a portfolio firm seem to be overcome by syndication of investments with one of the VC firms located close to the investment. Our analysis does, however, suggest that short geographic distance between an investor and the investment has an increasing effeon the probability for syndication as well as on the number of firms that join the syndicate. Hence, local VC suppliers may assume a role of an 'anchor' connecting the regional economy to more distant parts of the industry.Venture Capital, syndication, geographic proximity, start-up financing, equity gap