Community Economic Development Investment Funds: the Nova Scotia Experience
Co-hosted by The Canadian CED Network, Thrive-Calgary’s CED Network, and Calgary Economic Development.
A two part event on Tuesday, August 13, 2013
- Webinar presentation from 10:00am -11:00am
- Facilitated local discussion from 11:00am – 12pm
Participate in both the webinar and local discussion at Calgary Economic Development- 5th floor, Global Business Centre, 136 8th Ave SE
Community Economic Development Investment Funds are pools of capital, formed through the sale of shares (or units), to persons within a defined community, created to operate or invest in one or more local businesses. The Nova Scotia Equity Tax Credit encourages local residents to invest in small businesses through CEDIFs with a personal tax credit of 30 per cent. Over the 14 years of their existence, CEDIFs have grown from an untested concept to a proven model for community capital development that now manages more than $50 million in 48 funds, all raised from local individuals. The model has been transferred to Prince Edward Island and other provinces have also expressed interest.
This session will introduce the CEDIF model, illustrate the impacts it has had redirecting investments for local impact, and consider key lessons from Nova Scotia’s success.
• Chris Payne, Government of Nova Scotia
Chris is Investment Manager for CEDIFs with Nova Scotia Economic and Rural Development and Tourism. He is a professional accountant (CMA) and has completed the Canadian Securities Course and the CICA in-depth GST/HST program. He is also on the National Board of Examiners for the CMA. He has been with the CEDIF program since before it began and promoted the investment tool throughout the province and internationally.
• The webinar will begin with a presentation by Chris, followed by an interactive question and answer period facilitated by CCEDNet Executive Director Mike Toye. Participants who register early will be able to send questions in advance of the session.
• Following the webinar we will move in to a moderated discussion with local leaders on what is happening in the province and our city around mobilizing local capital for local investment.
• To register for the webinar at your personal computer, click here http://cedif-ns.eventbrite.ca
• Nova Scotia Government webpage on CEDIFs
• Community Economic Development Investment Funds Brochure
• CEDIF Public Policy Profile by the Canadian Social Economy Hub
• Equity Tax Credits as a Tool for CED by Stewart Perry and Garry Loewen, Canadian Centre for Community Renewal
• “No Payne, No Gain: Chris Payne on Hyperlocal Investing” blog post by Peter Deitz on socialfinance.ca