Excellent green jobs, supply chains that work for local producers, and succession planning solutions for owners and communities are the economic impacts The Alberta Community & Co-operative Association (ACCA) is working towards as part of their new Local Investment Solutions (LIS) initiative, thanks to a Federal investment through PrairiesCan of more than $1.1 million. VillageWellth, a Calgary based tech company, has joined as a partner to provide technical support.

This work is also made possible by strategic project partners, which include the BC Co-op Association, Peavy Industries Ltd, VanCity, Servus Credit Union, and the Canadian Community Economic Development Network, which are funding the project on a dollar-to-dollar basis.

Capital investment and long-term commitments from investors are key to helping businesses to scale and grow. ACCA’s initiative provides technical support to co-operatives, and other local groups, to accelerate the process and reduce costs of raising capital from their membership. Using a shared services approach, groups can access a range of expertise including legal, accounting, business and investment consultants, with specific economic development and co-operative expertise at reduced cost. Further, it connects co-operatives doing innovative work to collaborate on common challenges and develop solutions together.

By sharing costs across a network of private investors and using a streamlined cost-effective platform, ACCA will increase investment attraction and opportunity analysis. This project also integrates supports for startups, expansion, and succession of local businesses. By localizing capital solutions, this project ensures longterm success of local businesses in Western Canada, and the retention of economic benefits in Canada.

"Co-operatives play an important role in the growth and innovation of Canada’s economy,” said the Honourable Daniel Vandal, Minister for PrairiesCan. “Our government’s investment and support for the Alberta Community & Co-operative Association will help communities work together to attract new investment, create businesses that meet the needs of local communities, and generate economic opportunities across Alberta and British Columbia."

“Over the last decade, over 20 investment coops have formed in B.C. and Alberta,” said Vicki Zinyk, ACCA Board Chair. “This project will strengthen the co-operative sector by reducing the complexity and cost of raising and placing co-operative and community capital into Western Canadian start-ups, expansions and successions by developing a federated services model which supports the fast-growing Co-operative and Community Investment ecosystems in Alberta and British Columbia.”

For more information, please contact:

Seth Leon Director of Co-operative Development

sleon@acca.coop 587-216-2144

Read the Full Media Release here