Community Economic Development Investment Funds (CEDIFs)
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.
Stimulate local investment and local job creation
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.
Community Economic Development Investment Funds