New Kootenay-focused investment fund seeks members

Free public launch sessions are scheduled from Nov. 9 to Dec. 14 in various communities

Two new investment funds aimed at boosting local economies in the Kootenays are looking for members.

Members of the East Kootenay Columbia Community Investment Co-op and the West Kootenay Boundary Community Investment Co-op have been working for much the past year on a business plan and incorporation documents.

They aim to pool their investments to support local projects such as affordable housing, renewable energy, sustainable agriculture and food production, small business development, technology, and community economic development.

“We are seeking individual and corporate investors who wish to diversify a portion of their investment portfolios locally, and who want to make an impact in the communities where they live,” said Eden Yesh, manager of the Invermere branch of Kootenay Employment Services and the fund’s project manager.

READ MORE: Legal pot will force big adjustments to Kootenay economy, group says

In 2015, those who filed tax returns in the East and West Kootenay invested more than $90 million and $60 million, respectively, into RRSPs – all of which left the region, the funds’ organizers said in a news release on Monday.

If just five person of those investments were redirected into local business financing, that would mean $4.5 million per year in the east and $3 million in the west in direct economic development stimulus, they said.

Free public launch sessions are scheduled from Nov. 9 to Dec. 14 in Sparwood, Fernie, Cranbrook, Kimberley, Invermere, Radium, Golden, Revelstoke, Grand Forks, Trail, Castlegar, Nelson, Silverton, Nakusp and Kaslo.

Membership is open to individuals, corporations, governments and First Nations.

To apply or get more information on a launch session, go to www.EastKootenayColumbia.com or www.WKBInvestmentCoop.com.

Like us on Facebook and follow us on Twitter

Just Posted

Forestry workers set to begin job action in Kootenays

Operations in Castlegar, Cranbrook, Galloway, Elko, Radium, Golden may see job action this week.

Road trip comes to end with split for Grand Forks Border Bruins

The team is coming off its longest road trip this season.

Grand Forks to receive business recovery funds post-flood

The community will receive two Rural Dividends grants for a total of $655,000.

Grand Forks high school students remember

The school and the Legion joined for the annual Remembrance Day ceremony.

Letter: English town remembers Grand Forks on anniversary of Armistice

Phillip Morris writes from Shrewsbury, England.

Six students arrested, charged in sex assault probe at Toronto all-boys school

The school’s principal, Greg Reeves, described the video of the alleged sexual assault as ‘horrific’

Shots fired near Chicago hospital, multiple victims: police

Police say at least one possible offender has been shot

B.C. to allow ride hailing services to operate in 2019

Fee will be applied to fund options for disabled people

Chocolate lab missing along Coquihalla

Brad Gibson is asking for help locating his missing dog.

B.C. connection to launch of new $10 bill

Great nephew of Viola Desmond says bill is a ‘step in the right direction’

Elections BC keeps eye on Canada Post dispute, but no change in Nov. 30 deadline

Vote No spokesman say an extension of one or two weeks would ensure all ballots are counted

Langley school pulls Japanese ‘rising sun’ flag after student petition

School district promises consultation with students and parents, defends using flag for war history

Calgary bobsled death inquiry recommends infrared technology, safety audits

A judge found the deaths of 17-year-old twins Evan and Jordan Caldwell were accidental and caused by blunt-force head and neck trauma

Most Read