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.
Community Investment Co-ops (CICs) are a new and innovative support system for rural economic and business development that effectively bridge the gap between local investors and local ventures in need of financing. CICs are a cost effective, community owned and controlled impact fund. They enable residents to become partners in locally driven economic development, which leads to stronger and more sustainable economies. In other words, your money won’t be in stocks and mutual funds, but more importantly in local projects and people.
The 2018 Mobilizing Local Capital (MLC) project is a joint initiative between Kootenay Employment Services, BC Rural Centre, the Province of BC, and dozens of community and economic development organizations across the region. During January and February 2018, over 400 residents in the Kootenay Rockies, Boundary and Columbia-Shuswap regions attended community impact investment sessions, and committed to establishing two new regional Community Investment Co-ops.
Over 70 economic development stakeholders formed two advisory committees: one for East Kootenay Columbia region and one for West Kootenay Boundary region. These committees participated in four months of investment co-op business planning activities. During the Summer and Fall, the CIC Consultant, a Co-op developer and a lawyer, and the business planning committes compiled the East Kootenay Columbia Community Investment Co-op's and the West Kootenay Boundary Community Investment Co-op's founding documents: the Memorandum of Association, Bylaws and Business Plans. Now finalized, we are undergoing a public launch of the two new Investment Co-ops:www.eastkootenaycolumbia.comwww.wkbinvestmentcoop.com
Eden Yesh, Invermere Branch Manager for Kootenay Employment Services, project manager to the 2018 Mobilizing Local Capital initiative, and Chair of the BC Community Impact Investment Coalition, will emcee public launch sessions throughout the region. These public launch sessions will highlight key areas of the business plan, governance and purpose of the new Investment Co-ops.
** We are seeking individuals and corporations who wish to become founding members of these new local impact investment co-ops, and who wish to make a difference in the communities they live, work and play **
All public launch sessions are open to the public and admission is free. There is limited seating in each community so please RSVP right away.
Please RSVP below to a public session near you or contact firstname.lastname@example.org