Local investment: putting our money where we live
By Contributor
In today’s interconnected world, it is easy to see how your hard-earned money can end up going towards projects and businesses all around the world. In 2013, British Columbians contributed $4.5 Billion of new monies into their RRSPs, much of that money disbursed outside the Province and Canada.
Imagine what an impact we could have by re-directing just 5% of that money back into the communities in which we live – $225 Million in annual local investments. The idea of Community Impact Investing aims to do just that.
Community Impact Investing is the process of connecting local investors to local investment opportunities. While the demand for investing locally is increasing, traditional options available to investors limit where they can invest. The result is that most local investment capital leaves our community and is invested into far off stock markets and corporations. An unintended consequence is that while our investments create significant jobs and wealth elsewhere, the places we live, work and play are overlooked.
Eden Yesh – Invermere Branch Manager for Kootenay Employment Services (KES), consultant to the Creston & District Community Investment Co-op and Chair of the BC Community Impact Investment Coalition – will host Community Investment sessions in most communities throughout the Kootenays. These sessions will highlight examples of how local investment vehicles have successfully met community needs across Canada, such as; affordable housing, renewable energy, sustainable agriculture and food production, locally-owned small business, technology, and community economic development projects.
The purpose of these sessions are to discuss the local investment movement in British Columbia and the opportunity to establish two new Community Investment Co-ops in Southeastern BC in 2018. The year-long initiative will be facilitated by Eden Yesh and funded in part by the Province of BC, Kootenay Employment Services and the BC Rural Centre.
“Community Investment Co-ops tend to generate not only employment and economic activity, but also civic pride and new attitudes about local ability to drive positive community change.
These Co-ops offer mentorship, support, and a connection with local investors and customers who have a vested interest in their success.” – Eden Yesh
Each Community Investment session is open to the public. Light snacks and refreshments will be provided and admission is free. There is limited seating in each community so please RSVP right away.
TO RSVP TO A SESSION NEAR YOU, GO TO:
www.communityinvestmentcoop.ca/rsvp
