Canada, NS: Craft brewery in Annapolis Valley launches residents’ investments program

The founders of a craft brewery being planned for Nova Scotia’s Annapolis Valley have announced the launch of a program that will allow residents of the province to invest in the project and receive a tax credit for doing so, Canadian Beer News reported on November 14.

The Wayfarers’ Ale Community Investment Ltd. has been set up to offer shares in a Community Economic Development Investment Fund (CEDIF) that will support the development of the brewery. Nova Scotians can invest cash or RRSP funds in the project, and will be eligible for a Nova Scotia Equity Tax Credit of between 35% and 65%, depending on the terms and length of the investment.

The funding raised via the CEDIF will be used to build the Wayfairers’ Ale Brewery adjacent to the Port Pub in Port Williams, NS, with a target opening date of late 2015.

14 November, 2014