The Eastern Ontario Development Fund is a four year, $80 million dollar fund aimed at helping to develop a more diversified and competitive regional economy. The fund is designed to help businesses create jobs, and invest in new technologies and innovation, equipment or skills for training of workers. This program has been instrumental in helping to develop communities by supporting economic development projects that attract and retain investment in Ontario-based industries.
Who is Eligible for this Ontario government funding?
The Eastern Ontario Development Program (EODF) provides resources to community development corporations within each of 15 distinct areas within the eastern region of Ontario. These respective community development corporations solicit applicants from the following:
- Non-profit organizations including municipalities and municipal organizations, corporations, community economic development organizations
- Commercial enterprises including individuals, corporations, partnerships, cooperatives, or trusts
- Aboriginal organizations
Eligible applicants include businesses from the following sectors:
- Advanced Manufacturing (automotive, aerospace, plastics, clean technologies, etc.)
- Life Sciences
- Processing (primary and secondary)
- Tourism
- Information and Communications Technology
- Cultural Industries
- Business development that will support projects which will lead to growth of new and existing businesses. This includes initiatives in areas such as skill development, attraction of youth, innovation and the adoption of information & communications technology.
- Innovation which leads to economic development while enhancing and diversifying local communities. Collaborative initiatives which involve and benefit multiple communities within the Eastern Ontario region.
Projects in the following priority-areas will be considered for Ontario government grants:
- Business development that will support projects which will lead to growth of new and existing businesses. This includes initiatives in areas such as skill development, attraction of youth, innovation and the adoption of information & communications technology.
- Innovation which leads to economic development while enhancing and diversifying local communities. Collaborative initiatives which involve and benefit multiple communities within the Eastern Ontario region.
Ontario Government Funding Streams Available Through EODF:
Firms with 10 or more full-time equivalent (FTE) employees, and total project costs of $500,000 or more are eligible for government funding of up to 15% of the total cost through EODF’s Business Stream. Firms with between 5 and 10 FTEs with project costs of at least $200,000 are also eligible for up to 15% funding through a Small Community Pilot Stream.
First steps for businesses that are interested in EODF:
Prospective applicants are asked to view the application guide and submit a “one page eligibility checklist” to eodf@ontario.ca prior to application, (a decision regarding whether a business will be considered for the funding will be made within 2 business days). Please contact a Canadian Government Funding Expert for more information on the EODF Program as well as a wide array of other business funding grants available for Canadian businesses. Choose among the following to learn more about the EODF small business grants and loans program:
Mentor Works Ltd. provides advice and support to help businesses discover and apply for Canadian Government Grants. Our team provides daily updates and information on Canadian Government Funding through our channels on Twitter, Google+, and LinkedIn; as well as through our Weekly Canadian Government Funding E-Newsletter.