The Terrace Standard, Wednesday, November 11, 1992 - Page A13 A dip in this pool offers | tax breaks and some risk TERRACE — A new provincial investment capital pool could top $100 million within five years, says its president. Speaking to a chamber of com- merce luncheon, David Levi of the Working Opportunilics Fund (WOF) said it is looking for me- ~ dium .or small size B.C. com- panies that need investment. But it’s also putting half of the pool in government securities and money market funds as a security cushion, he said. WOF came inio existence this spring and is owned by seven Jabour unions. It has already raised $7.5 mil- _ lion held by 2,500 people. _ WOF was created under legisla- tion passed by. the provincial government in 1987 that offers investors federal and provincial _dax write offs amounting to 40 per cent of their investment. Investors must be. B.C, tax- ‘payers and they must hold their investment for eight years to real- ize the write off. The investment can also be done in a Registered Retirement Savings Plan, providing more tax deductions, said Levi, UNBC David Levi ‘That way the average risk is 20 cents on the dollar (in- vested),’’ he told the luncheon audience. ’ *For every $1,000 invested, a vague on regional service plan TERRACE — The University of Northem B.C.’s newly , released regional plan contains almost no specifics on what kind of regional service will be provided. The long-awaited 68-page doc- ument — entitled Report of the Interim Governing Council Com- ‘mittee on Regional Policy and ‘Implementation —— says little can be done until an agreement is "reached between, UNBC, and the _. comuminity colleg ing ofstudents, ~~ =the, fir hohe vate “Tt is impossible to provide a clear indication of. the Univer- sity’s regional plan for 1994 and beyond,”’ states the report. It- warns that UNBC’s regional operations will hinge on the _ ongoing negotiations between the colleges and UNBC. _“Bvery possible configuration of university-college _ relations carries specific benefits and _ liabilities,’’ the report adds. “Approaches which leave ex- isting college operations un- changed severely limit the pros- pect for a UNBC presence in the - region; conversely, arrangements * ‘Which establish a substantial and - sustainable university presence in _ tegional centres could cause con- siderable dislocation of the col- - Jeges,”’ it states. “? The report lists many things ~ peyond the university’s control, including:. * The reaction of the college system to the university’s proposals. * The level of community and student support for various UNEC initiatives. _-* Levels of financial support from the province, academic granting agencies, and the private sector. “The University of Northem British Columbia cannot be everything to everybody, Finite ~ §imancial resources and the small > pumber of enrolments do not: = permit the freedom of action that northern stakeholders might wish.” Five possible programs that S -.: would be jointly developed with > the colleges and be offered across ~~ all regions are: nursing, forestry, ‘social work, business, and applied science, Four other programs are being studied that may be introduced in specific regions only. They are: an aviation maintenance manage- ment program in Dawson Creek, a maritime studies program in Prince Rupert, an applied science program in Kitimat, and a fine and performing arts program in Prince Rupert. o possible .programs that could be comipiciea “entirely by distance education are first ma- tions studies and northern studies. In its battle to survive against the ‘‘tyranny of small aumbers’’, the report also calls for the crea- tion of a aumber of summer in- stitutes, which would offer an in- tensive series of UNBC credit courses in the regions. Possible summer institutes in- clude: first nations culture, en- vironmental studies, energy resources, and maritime studies. “The University of North- ern British Columbia can- not be everything to every- body.’? UNEC also proposes to set up region-specific research institutes in the following ficlds: inland fisheries, forest areas, land use studies, cnergy resources, agricul- tural, maritime studies, and wild- life biology. Those institutes would work on a set of specific research projects, which tentatively include: first nations self-determination, health care delivery, northern B.C. his- tory, the Cassiar mine closure, and northern B.C. transportation. The report indicates minimum class sizes will be required, and says the break-even point for most courses will likely be 25 students, Communication with the regions would follow plans al- ready released, Regional coordinators are io be hited for each region, who are to work with volunteer communily representatives and community advisory committees, room. : | Creative Option Inc. Recycling Recycling is vastly becoming the most cost-effective way to reduce waste in our environment. Creative Options is providing on site disposal bins and pickup of recyclable paper to local business in the Terrace area. * Contact us for your confidential paper shredding. Jobs can be performed on site, at your place of business or in our shredding Contact Linda Pelletier at 635-7884 person would get a refund of $800,” Levi said. Levi said that kind of refund is good news, but reminded his audience that there is a risk asso- ciated in any investment, In this case, that risk is investi- ng in medium and. small size businesses, he said. Yet he categorized thal.as a good risk given the pay offs that do result in successful operations. “When big businesses invest- ment, they do so to produce more with less people. That’s the na- ture of big business,” said Levi. ‘With a small or mid size busi- ness expands, they hire more people,” he continucd. This fits with the provincial and federal government’s latest view that small and medium businesses are providing the great majority of new jobs in Canada. , WOF has four guidelincs — finding businesses that will diver- sify the economy, ones that will operate in the regions, finding companies that concentrate on ex- port and companics that replace imported goods or services with B.C. goods and services. Eligible businesses must have sales of less than $35 million, have less than 80 employees and pay a minimum of 50 per cent of its payroll to B.C. workers. WOF won't invest in resource companies, retail companies, real estate developments or involve it- self in rescue operations. -WOF’s. minimum investment will be $100,000 and its maxi- mum $5 million with a participa- Deloitte & - Touche ! NN FINANCIAL DIFFICULTIES? -Call us to arrange for a free consultation and a copy of our information booklet (604) 564-1111 Toll Free: 1-800-663-5103 DELOITTE & TOUCHE INC. #800 .,208.Victoria Stregt, Prinedceorge, B.C. Val 5SBBY : tion period of three to five years. Levi said WOF wants to invest in businesses that will provide a return of at least 20 per cent. “Over the five years there will be some businesses that will dou- ble or triple that, We will have some fnilures,’’ he said. “Levi said operations such as the Shames Mountain are qualify as potential investment op- portunities. The return could either come in a percentage of profits matching the investment or by selling shares should the company go public, Levi continued. WOF will also offer assistance in business planning and financial systems to those companies in which it has invested. THE CORPORATION OF THE VILLAGE OF BURNS LAKE TENDERS The Village of Burns Lake will accept bids for the feowing item up to 12:00 Noon, November 20, 1992. lonly - 16 yard Leach Sanieruiser tear load garbage packer mounted on a 1983 Ford Chassis. For further information please contact Ted Riehl at 692-7587. The lowest or any bid not necessarily accepted. Village of Bums Lake Box 570 ; Burns Lake, B.C. VOJ 1E0 INVENTORY 2x6 walls, dishwasher, bay window. Was $45,108.00 NOW REDUCED ¢ TO ne cesssssssessenee 39,900* *All units F.O.B. 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