In just twenty business days, New Dawn Community Investment Ltd. has exceeded its campaign target of $1 million to raise $1.5 million for its 2012 CEDIF. This is the seventh year that a New Dawn company has administered a Community Economic Development Investment Fund. Unlike previous years, New Dawn Community Investment has had to close its offering before the end of February.
“This campaign has exceeded all of our expectations,” says Rankin MacSween, Secretary of New Dawn Community Investment Ltd. “We are overwhelmed by, and feel a great deal of gratitude for, the support and enthusiasm shown by the people of this community and their determination to invest in the places where they live and work. Access to capital is a prerequisite for the success of private enterprise in Cape Breton. The CEDIF offered by New Dawn Community Investment this year provides just that.”
New Dawn Community Investment will invest the full $1.5 million in Protocase Inc., a custom electronic enclosure manufacturer established in 2001. According to Steve Lilley, President of Protocase, “this infusion of capital will allow us to complete the development of a second manufacturing cell, necessitated by the steady and ongoing growth of operations over the past number of years.”
“The success of New Dawn Community Investment’s CEDIF campaign this year speaks to an unwavering spirit of self-reliance on this island,” says MacSween. “Knowing that we can, among ourselves, raise and invest the capital needed to grow our economy, is central to moving forward with new ways of thinking about how we govern ourselves and how we ensure our shared future prosperity.”
New Dawn Community Investment’s 2012 CEDIF
Over the last six years, New Dawn Holdings Limited has met with incredible success in meeting its ever larger Community Economic Development Investment Fund (CEDIF) targets. This success speaks, in part, to the desire of investors for investment opportunities within their own community; investment opportunities that allow them to keep their capital here and contribute to the growth and vitality of Cape Breton Island.
In 2011, New Dawn Holdings raised almost $2.5 million through its Community Economic Development Investment Fund (CEDIF) – the highest one year CEDIF offering in Nova Scotia history. These funds provided investment capital to New Dawn Enterprises to help it grow its existing companies, launch new businesses and advance its community building initiatives.
New Dawn Community Investments Ltd.
This year, New Dawn is pleased to announce the establishment of New Dawn Community Investment Limited, a company that will continue to allow investors to grow their money while also growing the community in which they live and work. By investing in locally owned private sector businesses, New Dawn Community Investments Ltd. enables the community to collectively raise the capital that these businesses need to expand their operations and customer-base, generate new wealth, and create stable well-paying employment opportunities.
2012 CEDIF: Protocase
New Dawn Community Investment Limited will invest funds raised in 2012 in Protocase Incorporated (www.protocase.com). Founded in 2001 by Steve Lilley and Doug Milburn, Protocase drafts and manufactures custom electronic enclosures for designers and engineers. With a staff of 60 and a turn-around time of two to three days, Protocase has established a growing customer base of 4,000 companies and individuals, including IBM, Hewlett-Packard, Stanford University, Apple, Boeing, GE, Intel, Microsoft and Motorola.
What is a CEDIF
Each year Nova Scotians invest more than $600 million in RRSPs. Less than 2% of this is reinvested in Nova Scotia. With New Dawn Community Investment’s 2012 Community Economic Development Investment Fund (CEDIF), a provincial Equity Tax Credit program, your investment dollars stay in Cape Breton where they can be put to work in your community.
By effectively pooling your money with your neighbours, and investing in a locally-owned business with a strong and consistent growth trajectory, your investment enables a cutting edge export-oriented business to access the capital it needs to expand its facilities and operations and to continue to meet the growing demand for its products. In short, it allows investors and businesses to further the vision of creating a self-reliant people in a vibrant community.
Benefits of Investing
- RRSP eligible
- No Annual Management Fee
- 35% provincial non-refundable income tax credit
How it works
A $5000 investment would qualify for a non-refundable provincial income tax credit of $1750 on your 2011 tax return. The annual maximum allowable investment of $50,000 would qualify for a $17,500 tax credit. Alternatively, an investor may carry this non-refundable equity tax credit forward for 7 years or back for 3 years. The investment is for a 5 year period and may be rolled over after 5 years for an additional 20% equity tax credit if the CEDIF meets certain other conditions.
Minimum investment is $1000 and maximum investment is $50,000 per year, per shareholder.
Who is Eligible to Invest?
Any Nova Scotia resident over the age of nineteen is eligible to invest in a CEDIF anywhere in the province.
How to Invest with New Dawn Community Investment Ltd.
New Dawn Community Investment Ltd. will be accepting investments on a first-come-first-serve basis until Wednesday February 29, 2012.
To make a 2012 CEDIF investment or for more information contact Leonard Murray at firstname.lastname@example.org or 902-539-9560 ext. 240.