CED Tax Credit
Whereas: Communities acting together to create local economic opportunities to enhance social conditions, employment, and services in their communities face the challenge of access to capital in order to pursue their CED initiatives.
Whereas: Locally and collectively owned enterprises are more responsive to local priorities, more likely to be committed to servicing the community rather than simply serving profit, have a much higher rate of sustainability: 62 per cent of new co-ops are still operating after five years, compared with 35 per cent for other new businesses. After 10 years, the figures are 44 per cent and 20 per cent respectively.
Whereas: Collectively owned community businesses create economic democracy, root ownership locally, distribute profits equitably, and often create jobs and services in communities where they are otherwise lacking.
Whereas: The Province of Manitoba has created the CED Tax Credit that has been successfully used to create approximately a dozen community-owned businesses around Manitoba.
Whereas: There is insufficient support for community groups to apply for the Manitoba CED Tax Credit and insufficient education and promotion of the CED Tax Credit such that most co-op, community, and economic developers in Manitoba are unaware of its existence and potential.
Be It Resolved That:
CCEDNet Manitoba urge the Province of Manitoba to strengthen the Manitoba CED Tax Credit by ensuring sufficient capacity to support community groups applying for the CED Tax Credit, and creating an education and promotion strategy to ensure that all those who might benefit from the CED Tax Credit are fully aware of it existence, benefits, and application process supports.
