A Community Economic Development Investment Fund (CEDIF) helps resourceful communities around Nova Scotia operate or invest in local business by blending local capital and grassroots business development. There are a number of benefits to investing in a CEDIF:
- Access to capital
- Small initial offerings
- Subsequent periodic offerings
- Regional investment
- Increased tax base
- Economic development
As it stands, Nova Scotians are funneling their invested dollars to large economic centers in Canada rather than capturing capital investment here in the region:
Statistics Canada data indicates that approximately $600 million was contributed to RRSPs by Nova Scotia taxpayers, however, less than two per cent of that is estimated to have been re-invested in the Province.
The economic benefit to the region is exponentially greater through each dollar invested in the local economy. An injection of additional capital into the region will result in more regional spending, which creates more income, and so on, eventually resulting in a healthy, sustainable and vibrant economic environment.
Your investment in any of Nova Scotia CEDIFs helps strengthen and diversify community economies.
Throughout 1996-98, extensive public consultations made it clear that additional sources of funding should be developed from within the community. Communities should be encouraged to take charge of their own initiatives, and retain local autonomy with respect to investment decisions.
There are now 47 CEDIFs in Nova Scotia that have successfully closed at least one offering. These Funds, through a total of 120 offerings, raised and invested $40 million in local enterprises. The capital of these Funds has been invested by 5,616 individual Nova Scotians (some repeat investors reduce this number). Interest in the program continues to grow, as evidenced by new Funds, additional offerings by existing Funds and the amount of capital which has flowed into these entities.
People are increasingly recognizing the benefits of investing Community Economic Development Funds. The number of investors climbed to nearly 1,000 at the start of 2014, a 34% increase since 2005, according to the Nova Scotia’s department of Economic and Rural Development and Tourism
Current Offerings (Updated February 8, 2017)
East Hants Entertainment Limited
In 2016, East Hants Bowling Society re-named its self to East Hants Entertainment Ltd. so they could to fulfill their dream of a Bowlplex for East Hants. The membership decided to take a leap forward and change their status from a non – profit to a business operated for profit. Working with CBDC on a business plan, they were approved in December 2016 to sell shares to the public by the Nova Scotia Department of Finance for the purpose of raising capital in order to build and operate a bowling and entertainment complex in their community.
BCA Growth Fund
BCA Growth Fund. is a newly established community economic development investment fund (CEDIF) company in the Cape Breton area. BCA Growth is offering its investors a 35% non-refundable income tax credit, with the option of receiving an additional 20% in year 5. Furthermore, they will begin to pay an annual dividend beginning in year two. BCA Growth plans to work closely with Cape Breton University and Marconi Campus (Nova Scotia Community College) in developing business research projects. We are now looking at biogas furnaces that will burn manure to produce methane, in addition to the feasibility of a wood pellet manufacturing and distribution plant.
FarmWorks Investment Co-operative Limited
FarmWorks Investment Co-operative Limited, incorporated in 2011, operates as a Community Economic Development Investment Fund (CEDIF) that enables Nova Scotians annually to purchase common shares in a diversified portfolio of businesses that yield meaningful financial returns on investments. These investments provide loans to farms, food processors, and value-added food producers, helping to increase the viability and sustainability of agriculture and the security of a healthy food supply.
Horton Ridge Malt & Grain Company
Horton Ridge Malt & Grain Co Ltd is Atlantic Canada’s first craft malt house and is dedicated to the fine art of floor malting, using quality organic malting grains. The Company provides organic floor malts to our region’s craft & home brewers and distillers.
Other Current Offerings
Nova Can Investment Fund
Chebucto Terrance Bay Wind Field Limited
Celtic Current Inc.
Solar Scotia I Inc.
Scotian Wind Inc.
See all CEDIFs in Nova Scotia here.