Like many rural Albertan communities the hamlet of Sangudo was in a slow state of economic decline. A dedicated group of community members pulled together to set up the Sangudo Opportunity Development Co-operative (SODC), to raise capital to invest in a local business to revive the local economy. SODC raised a quarter of a million dollars to purchase Sangudo Custom Meat Packers (owner was retiring) and leased the building to two local entrepreneurs. Since then, the meat-packing plant has created 14 additional jobs, and is expanding through support from SODC. The SODC has also invested in a local restaurant and is exploring several other business ventures. Through this, they have been able to provide excellent returns on investment.
The town of Westlock was in risk of losing its grain terminal; which would have forced farmers to truck their grain 100 kms further, adding significantly to their cost of production. In response to this impending crisis the community pulled together, and using a CIF strategy, raised enough capital to purchase the terminal. Today, Westlock Terminals NGC Ltd. is one of the busiest and most profitable terminals in all of Western Canada!
Local Investing YYC
Battle River Railway
In the Battle River area, farmers faced a similar challenge; however this time they were facing the decommissioning of the railway that connected them to the closest grain terminal. Again, the community pulled together and invested in Battle River Railway NGC that bought the railway! Since making the purchase, the investment has paid significant dividends to its community owners. It has also provided an important asset that can be used for tourism and other opportunities within the area.