Eastern Ontario Development Fund Supports Over 200 Jobs
Eastern Ontario government funding is supporting the expansion of four growing businesses. The selected manufacturers will create a total of 76 new jobs, while retaining an additional 137 for the region among other key benefits of their projects.
On October 13, 2016, Premiere Kathleen Wynne announced that the Eastern Ontario Development Fund (EODF) will invest more than $1.27 million into the projects, enabling Dynamo Industries Inc., Groupe TIF Group, ELPA, and Lanthier Bakery to grow and preserve their manufacturing foothold in the region.
The Eastern Ontario Development Fund provides Ontario business grants to promote productivity enhancements, infrastructure expansion, and new innovative technology, through the support of economic development initiatives. Eligible projects may receive 10-15% in grants to a maximum of $1.5 million.
Eastern Ontario Development Fund Supports Four Manufacturers
By investing in the future of 4 local enterprises, the Eastern Ontario Development Fund is supporting its goal to create new job opportunities, drive economic expansion and boost competitiveness within the region. EODF’s most recent Ontario government grants support was provided to:
Dynamo Industries Inc.
Manufacturers of sports and playground equipment, Dynamo Industries Inc. serves international consumer markets with sustainable products. Ontario government grants will allow the company to upgrade facilities in Rockland and Plantagenet Township and increase production capacity to better serve demand. The maximum $131,800 investment will increase production capacity, sustain 10 new jobs and retain 38 existing positions.
Groupe TIF Group
Groupe TIF Group is an assembler and distributor of custom truck bodies. In order to support infrastructure plans to open a new facility and expand productivity, Eastern Ontario Development Fund grants will provide up to $315,700 to fund the company’s latest expansion in Vars. With EODF small business grants, Groupe TIF Group will support 16 new jobs and retain 40 positions.
ELPA (Ontario) Inc.
Eastern Ontario government grants will also support ELPA (Ontario) Inc., a precision manufacturing company that specializes in machining and welding operations, based in L’Orignal. The company will receive up to $223,850 to support the purchase of equipment and software, specialized tools, infrastructure development, and workforce training initiatives. The program’s financial investment will empower ELPA’s expansion by creating 10 new positions and retaining an additional 24.
Lanthier Bakery
Serving Ontario and Québec markets, Lanthier Bakery, a manufacturer of bread products has obtained funding to aid in equipment purchasing and economic expansion. Lanthier Bakery’s partnership with Ontario will allow business operations to flourish; a total of $605,742 in funding has been awarded and will enable the company to offer 40 new job opportunities and retain an addition 35 existing positions, for the next three and a half years.
“Regional investment funds are helping to create good jobs and supporting companies that are pursuing innovations that will help them stay competitive in today’s global economy.”
– Brad Duguid, Minister of Economic Growth and Development
Ontario Government Grants Enable Infrastructure Expansion, Innovation and Job Creation
The Eastern Ontario Development Fund (EODF) was established to enhance productivity and diversify the businesses operating in eastern Ontario. EODF grants provide up to 10-15% of eligible project expenses to a maximum of $1.5 million for innovative business expansion activities, including innovative equipment purchases, infrastructure modifications, and workforce development among small businesses in eastern Ontario.
To date, EODF has leveraged more than $380 million in investments which has secured over 6,500 jobs created or retained within eastern Ontario.
Growth-oriented, for-profit businesses in high-priority sectors such as advanced manufacturing, information and communications technology (ICT), life sciences, primary resources processing are ideal EODF applicants.
Small Business Grants Can Support Your Company’s Expansion
Across Canada, small and mid-sized businesses use Canadian government funding programs to reduce the cost of large-scale strategic projects. If your organization is conceptualizing projects that will enhance productivity, increase exports, or will expand your number of employees, grants and loans may be available.
If your business is curious about its eligibility for the Eastern Ontario Development Fund or any other funding program, please contact Mentor Works.
