Those strange pesky Canadians and their good ideas.
New Brunswick Tax Breaks Encourage Local Business Investments, by Chelsea Eddy (AMIBA)
Investing in one’s own local business community, rather than in publicly-traded corporations, is an idea generating interest globally. Yet progress enabling such opportunities has come slowly in the U.S., as federal and state laws impeding such investments by average citizens have been slow to change. Now that the Securities and Exchange Commission has revised rules to lower many legal obstacles to local investing, we might look to one innovative Canadian province for an example of policy actively encouraging it.
New Brunswick’s Small Business Investor Tax Credit Program harnesses local wealth and encourages community-rooted economic development by giving generous tax credits to residents and companies to invest in their own communities.