Community Investment Funds Help Nova Scotians
Nova Scotians invested $5.3 million last year, making it the best year in the seven-year history of the Community Economic Development Investment Funds (CEDIFS).
It was the fourth consecutive record-setting year for Nova Scotians investing in their communities.
"These local investment pools help Nova Scotia companies secure the capital they need to grow and prosper," said acting Economic Development Minister Jamie Muir. "By investing in these funds, Nova Scotians are keeping money at home while they support local enterprises and create a foundation for the future of our communities."
When CEDIFs were introduced in 2000, 261 Nova Scotians took the opportunity to invest $1.1 million in the program. The popularity of these investments has grown over the years, fuelling economic growth in rural and urban areas around the province. Today, about 3,600 Nova Scotians have chosen to invest more than $25 million in an array of businesses such as renewable energy, a farmer's market, co-ops, high-tech and environmental enterprises.
Nova Scotians who buy shares in the funds may qualify for a 30 per cent tax credit and can hold shares as investments in self-directed RRSPs.
Currently, 14 funds are offering shares in the province:
- Bay Wind Field, Digby, call 1-877-380-WIND (9463) or see website www.baywind.ns.ca
- Black Business Investment Fund, Halifax Regional Municipality, call 902-426-6985 or see website www.bbi.ca
- Chebucto Wind Field Inc., Halifax Regional Municipality, call 902-209-5911 or see website www.scotianwindfields.ca
- Connecting People for Health Equity Holdings, Halifax Regional Municipality, call 442-4645 or see website www.cphci.ca/
- Evangeline Investment Funds Limited, New Minas, Kings Co., call 902-679-0057 or see website www.paddyspub.ca/investment
- Just Us Coffee, Wolfville, call 902-542-7474, ext. 257, or see website www.justuscoffee.com
- Margaree and Area Community Fund Inc., Inverness County, call 902-248-2521
- Port Hood RV Co-operative Limited, Inverness Co., call 902-787-3284 or see website www.almacinnissportscentre.com
- Farmer's Market Investment Co-Operative Ltd., Halifax Regional Municipality, call 902-483-4732 or see website www.halifaxfarmersmarket.com
- New Dawn Holdings, Sydney, call 902-539-9560 or see website www.newdawn.ca
- Select Technologies, Halifax Regional Municipality, call 902-421-6024 www.tara.ca
- Soil Ecology Investment Group Ltd., Halifax Regional Municipality, call 902-421-5696 or see website www.sfce.ca/CEDIF/
- The Sustainable Islands Fund, Long and Brier Islands, Digby Co., call 902-839-2078 www.islandscedif.com
- Whycocomagh Investment Co-operative Limited, Inverness County, call 902-756-9035
Every CEDIF offering is made through an offering document, which can be obtained from an authorized sales agent or finder, (see contact information above). Investors should read the offering document before making an investment decision.
For more information on Community Economic Development Investment Funds operating across Nova Scotia, see the website at www.gov.ns.ca/econ/cedif/.