Digital Opportunity for N.S. Investors

Nova Scotians eager to join the digital revolution now have an opportunity to get in on the ground floor of a project without having to learn the difference between a broadcast and a broadband.

Until June 30, Nova Scotians can invest in the Production School House, a new digital media training centre in Windsor. The 900-square-metre facility will provide advanced training to individuals looking to expand their expertise in the cultural and technology industries to produce digital content for the Internet, CD-ROM and broadcast.

Investments in Production School House will be made through Hants Ventures Inc., which was recently approved by the province to raise equity as a Community Economic Development Investment Fund. Under the fund's structure, investments are pre-approved for self-directed RRSPs and are eligible for a 30 per cent tax credit. As well, the province guarantees 20 per cent of the investment against loss for the first four years.

"The Community Economic Development Investment Fund structure has provided us with a powerful tool to attract investment capital," said Hants Ventures president Erik Twohig. "I'm confident it will ignite sustainable growth in an exciting area of the new economy."

The Production School House began operating this spring in temporary space on Gerrish Street in Windsor. Plans call for the centre to eventually include advanced Internet broadcast systems, studio space, a media library, as well as audio, video and animation production labs. The centre offers workshops as well as 20- and 40-week programs. In the longer program, participants will receive direction, training and support to develop and create interactive content for digital media, as well as access to technical and business resources to support their work and meet the needs of their employers.

Economic Development Minister Gordon Balser called the Production School House an example of a smart, innovative venture that's filling a critical need in the marketplace.

"The demand for skilled digital media professionals will only grow as the industry continues to move further into the entertainment and information mass markets," said the minister. "Production School House is ensuring that Nova Scotians will have the opportunity to meet that demand and actively participate in ever-expanding new media fields."

Mr. Balser said use of the province's Community Economic Development Investment Fund program to help finance the centre will allow Nova Scotians to play a bigger role in the industry and help ensure the Production School House is a truly local venture capital project.

Hants Ventures Inc. is seeking to raise between $400,000 and $1 million to invest in up to 49 per cent of common shares of the Production School House. Investors can find out more information on the Internet at www.productionschoolhouse.com, or contact Brian Watling, Acadian Securities, at 1-800-303-7073 or 902-798-8666. They are also invited to attend an information session in:

• Windsor, Wednesday, June 14, at 7:30 p.m., at the Kingsway on Wentworth Road
• Halifax, Monday, June 19, at 4 p.m., at the Discovery Centre boardroom on Barrington Street

For more information on Nova Scotia's Community Economic Development Investment Funds program, visit www.gov.ns.ca/ecor/pubs/cedguide or contact Chris Payne, manager of community investment funds, at 902-424-1259.