Information session outlining benefits, risks of investing in CEDIFs?being held next week

Sherry Martell
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TRURO - Investments in Community Economic Development Funds (CEDIF) have continued to steadily grow since being introduced in this province a decade ago.
There are currently 48 CEDIFs in Nova Scotia that have successfully closed at least one offering and now manage $32,000 in assets.
An information session introducing people to the benefits and risks of investing in CEDIFs will be held in Truro on Thursday, Feb. 4, at 7 p.m.
"It's to bring awareness to the community of the opportunities to invest in local companies using the CEDIF mechanism," said Brian Matthews, project manager of Performance Genomic (1999) Inc.
Chris Payne, corporate strategist with the Department of Economic Development, will discuss the intricacies of the program.
There will be two Colchester County-based CEDIF presentations, one facilitated by Dr. Hein van der Steen of the Performance Genomics Investment Fund Co-op and Derek Forsyth, agent for Ocean Links Investment Fund.
Matthews said the CEDIF program creates an opportunity to support local business by offering an enticing non-refundable 35 per cent tax credit from the province of Nova Scotia.
"That in itself is unique from other investments, but there is a reason for that," said Matthews. "The reason they are doing that is we have small private companies that would have difficulty raising capital in other markets if they were competing head-to-head against larger established corporations."

Organizations: CEDIFs, Department of Economic Development, Performance Genomics Investment Fund Co-op Ocean Links Investment Fund

Geographic location: TRURO, Nova Scotia, Colchester County

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