News Release Archive
FINANCE--COMMUNITY ECONOMIC DEVELOPMENT
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Nova Scotia's first community economic development co-operative
has been officially launched. The Department of Finance has
approved the first certificate of eligibility under a new
provincial tax incentive program. The certificate was issued to
the Forest Trail Development Cooperative Ltd., Inverness.
They may now approach investors to raise equity to help build a
hardwood flooring production plant. Investors are eligible for a
30 per cent equity tax credit and a government guarantee that the
value of their investment will not fall below 20 per cent of its
original value. Community based business groups may form
co-operatives or corporations in their efforts to raise equity
capital for local development.
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Contact: Bruce Cameron 902-424-8787
Frank Crowdis 902-258-2622
Forest Trail Development Cooperative
trp July 25, 1996 - 9:25 a.m.
