New Dawn Enterprises doubles investment goal for 2016 to $3M
Community economic agency also wants to invest in businesses outside of Cape Breton Regional Municipality
The Cape Breton community economic development agency, New Dawn Enterprises, has doubled its goal for investments this season.
New Dawn’s community economic development fund typically raises about $1.5 million a year. This year, the goal is $3 million.
New Dawn director of communications, Erika Shea, said prospects are good. She said such community development funds were endorsed by the Ivany commission, which reported in 2014 on the economic future of Nova Scotia.
Shea said New Dawn is also encouraged by the growth of the companies in which they’ve invested.
New Dawn is also spreading the word about its interest in investing in more areas outside of the Cape Breton Regional Municipality.
“Our sense is that the more that we dig, the more we find incredible investment opportunities all over the place,” said Shea.
Officials have made presentations at municipal councils in Port Hawkesbury and Inverness. They plan to do the same in Victoria and Richmond counties later this month.
Shea said they are looking to invest in innovative companies that generally export their products.
Last year, New Dawn invested in seven companies in Cape Breton. It offers a minimum five-year loan, and interest must be paid monthly.
Over the last 10 years, New Dawn has attracted 700 investors. It is seeking investors for this season until Feb. 29.
It will begin entertaining presentations from companies in April.
