Investing

FarmWorks Community Economic Development Investment Fund (CEDIF) enables Nova Scotians to receive tax credits for investing in food-related businesses that increase the viability and sustainability of agriculture and the security provided by access to local food.  The CEDIF is regulated by the Nova Scotia Government.  For each CEDIF Offer FarmWorks obtains an Equity Tax Credit Certificate from the NS Department of Finance and a letter of non-objection from the NS Securities Commission enabling the sale of shares in the FarmWorks CEDIF.  The elected volunteer Board of Directors manages the Share Offers and the portfolio of loans. Each investor becomes a member of FarmWorks co-operative and is eligible to vote and to be nominated as a Director of the FarmWorks board. FarmWorks Shares are $100 with a minimum purchase of one Share, a maximum of 150 or 300 if certain conditions are met. Shares in 2023 are available until March 1st.

When Offers are open Nova Scotians who invest in FarmWorks for five year terms can receive a 35% Provincial tax credit that can be applied to the preceding tax year (and can be carried back 3 years or forward 7 years). Subsequent 20% and 10% credits may be received at the beginning of each five year term provided FarmWorks meets required conditions. The 15 year Provincial tax credit is 65%, or greater if the upfront tax credit is reinvested in FarmWorks.  

Investing funds in FarmWorks through the Canadian Workers Cooperative Federation RRSP defers federal tax based on the investor's marginal tax rate. Transferring existing RRSPs to FarmWorks through CWCF gains the 35%, 20%. 10% Provincial tax credit on funds that are otherwise invested outside Nova Scotia in economies other than our own.

Opportunities abound for food-related businesses to start and grow. Just over one million Nova Scotians spend just under four billion dollars annually on food, at home and away from home, and only about 15% is grown and processed in the Province. FarmWorks has provided 150 businesses with $8.2 M in loans and mentoring and promotion to date and new applications are received weekly. Every percentage increase in demand results in expansion of production to provide more food, with resulting socioeconomic benefits for all Nova Scotians. We encourage people to buy fresh, healthy, seasonal food when they can. Food and farming businesses are crucial for our healthy future.