Local Investments Working for Nova Scotians
Nova Scotians invested record amounts in community investment funds last year, fueling growth in rural and urban areas around the province.
Economic Development Minister Richard Hurlburt said Nova Scotians invested more than $5.2 million in Community Economic Development Investment Funds (CEDIFs), making the 2006 tax year the best year in the program's history.
"These funds support hard-working Nova Scotians who are developing enterprises at home," said Mr. Hurlburt. "By investing in these ventures, Nova Scotians are supporting each other and building a foundation for future generations."
Since the government of Nova Scotia introduced CEDIFs in 2000, about 3,000 Nova Scotians have invested more than $20 million. The investments are helping to fund diverse community businesses, ranging from locally owned wind power to fair trade organic coffee co-ops to a funeral home.
Nova Scotians who buy shares in the funds qualify for a 30 per cent tax credit and can hold the shares as investments in self-directed RRSPs.
Currently 11 funds are offering shares in the province:
- Scotian WindFields, Windsor, is offering opportunities through five separate funds at 1-877-798-5085 or see the website, www.scotianwindfields.org.
- Black Business Investment Fund, Halifax Regional Municipality, www.bbi.ca or call 902-426-6985
- Just Us Coffee, Wolfville, www.justuscoffee.com or call 902-542-7474
- Dundee Holdings, Dundee, 902-295-3527
- Mount Business Investments, Mount Uniacke, 902-493-5489
- Port Hood RV Park, Port Hood, 902-564-8821
- Port Bistro, Port Williams, 902-542-0106.
This is not an exempt offering to the public in Nova Scotia. People interested in purchasing shares of any of these funds must be provided a simplified offering document that has not been objected to by the Nova Scotia Securities Commission.
For more information on Community Economic Development Investment Funds operating across Nova Scotia, see the website at www.gov.ns.ca/econ/cedif/.