Sustainable Islands CEDIF

Towards a Sustainable Future
Climate Change is affecting coastal communities around the world. Our dependence on fossil fuels for transportation, heat and electricity must be replaced with greener, renewable energy sources and practices that reduce green house gases. Our community has the advantage of having world class tidal and wind energy resources enough to be self-sufficient and to sell off island.

We are also renowned as an eco-tourism destination. Sustainable initiatives include the preservation and development of both our natural and renewable energy resources. These include wind, tidal power and solar power, biofuels, reducing emissions, environmental technologies and services and leveraging our natural resources through eco-tourism. Sustainable development is intended to last for the long-term and create local jobs and economic development.

Our Community
The villages of Freeport, Tiverton and Westport have been built on the natural resources and beauty of the sea and like all coastal communities we are in an era of adaptation brought on by climate change and reliance on fossil fuels. The tides and winds of the Bay of Fundy and St. Mary's Bay have been the source of our livelihood for generations and now bless us with world-class renewable energy resources. The development and preservation of these resources and other environmental industries provide an opportunity to create a sustainable, greener community for generations to come.

Think Global. Act Local.
The Sustainable Islands Community Economic Development Investment Fund Inc. (Islands CEDIF) has been established to make sustainable and environmentally friendly investments in new and existing businesses in the Long and Brier Islands area of Digby County.

The Islands CEDIF is currently seeking investors to meet the requirements of becoming a Community Economic Development Investment Fund (CEDIF) as developed by the NS Department of Economic Development. This program provides the CEDIF with a means for the community to manage their investment dollars and retirement savings and direct them at the development of local enterprises.

Statistics Canada data indicates that approximately $600 million is contributed to RRSPs by Nova Scotia taxpayers each year, however, less than two per cent of that is estimated to be re-invested in the Province. This is a problem for communities in two ways: first, it is often difficult to attract venture capital to invest away from their home location, and second, each investment dollar spent in a community circulates through the economy creating a beneficial ripple effect. Most of our investment dollars are benefiting the Ontario economy (through the TSE).

Green by 2018
The mission of The Sustainable Islands CEDIF is to increase the level of economic activity and prosperity within the community by means of the creation of a Community Economic Development Investment Fund which will make equity and subordinated debt available to new and existing business within the boundaries of the community.

Our vision is to provide a 100% renewable energy supply to our community within ten years and in so doing reduce our greenhouse gas emissions to acceptable global standards.

Getting Started
The Islands CEDIF share offering will target developing wind and tidal power on the islands and the infrastructure to manage and grow the fund over the long-term. The Islands CEDIF is also assessing opportunities for future offerings such as eco-friendly greenhouses, green transportation, a seniors complex and a construction company focused on the building or renovation of environmentally conscious and energy efficient buildings.

The initial volunteer board of directors consists of active members of the village commissions, board of trade, fire department, library and cemetery committees and have served as directors of the network of CEDIFs referred to as the Scotian WindFields involved in the start-up of such green companies as Renewable Energy Services Ltd., Scotian WindFields Inc., Fourth Generation Capital Corporation and most recently Fundy Tidal Inc. A new board of directors is elected by shareholders on an annual basis.

Go Big and Stay Home
Shares are made available through a Simplified Offering Document to Nova Scotia residents. Shares issued are common voting shares enabling shareholders to play an active role in the direction of the fund by electing or being a member of the board of directors.

We are currently targetting November 2008 to release our offering in time for the RRSP season.

If you would like to be notified when our Offering is available or find out more about how your investment may also be eligible as a RRSP contribution and for 30% non-refundable Nova Scotia Equity Tax Credit against Nova Scotia income taxes payable, pleaseContact us.