Community Economic Development Investment Funds (CEDIFs)

Impact Areas:

Local Enterprises

Abbreviation:

CEDIF

Website:

Funding Amount:

Various

Geographic Area:

Nova Scotia

Summary:

Nova Scotia Provincial initiative where local community investors can pool capital, formed through the sale of shares (or units) to operate or invest in local business.

Program Objective:

Stimulate local investment and local job creation

Investment Type:

Share Capital

Key Features:

This program is for economic development, and the project must have a measurable, financial return. It is not meant as an alternative manner to finance projects which are more accurately described as municipal infrastructure. For example, a community may want to develop a park facility which it feels will bring benefits to the local population. While this is a worthwhile endeavour it does not produce a revenue stream and is therefore not an eligible use of funds raised through a CEDIF. A CEDIF must develop within the community. Any individual or group can form a working group to investigate the possibility of starting a CEDIF in their community. A CEDIF need not be large at its formation. A small initial offering followed by annual, or semi-annual offerings will quickly grow to be a substantial capital pool for local investments.

Client Group:

Community Economic Development Investment Funds