Eastern Ontario Development Fund (EODF)
Receive up to $500k to $5M in Government Funding.
The Eastern Ontario Development Fund (EODF) is a business expansion funding program that incentivizes companies to invest in new facilities and equipment, as well as supports economic development organizations, municipalities, and consortia in investing in infrastructure or implementing strategies to advance regional priorities.
The Business Stream attracts large-scale projects that have a significant impact on business productivity and create new employment opportunities within the company. Through the program, successful applicants will receive grants or a combination of grants and repayable funding (government loans) to offset project costs.
The Community Economic Development Stream supports community economic development projects that lead to business growth, generate broad positive economic impacts, and encourage innovation, collaboration, and cluster development.
Demande de Financement
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Eastern Ontario Development Fund (EODF)
Amount of Funding
Business Stream
The Eastern Ontario Development Fund (EODF) is one of the most popular Ontario government funding programs available to support large-scale business investments. Through the program, companies can receive grants and loans to minimize the impact of expansion on company cash flows. By providing additional capital to support projects, manufacturers, and other targeted applicants can grow faster and respond to opportunities more effectively. The Business Stream offers two types of funding support:
- Performance-Based Loan: Up to 15% of eligible project expenses to a maximum $5 million interest-free loan. If all investments and job targets are achieved, up to 30% of the loan (to a maximum of $500,000) may be forgiven.
- Conditional Grant: Up to 15% of eligible project expenses to a maximum of $500,000 for small and rural companies (less than 100 full-time employees (FTEs) in a municipality with less than 100,000 population).
- $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions.
Community Economic Development Stream
The Eastern Ontario Development Fund (EODF) provides support for economic development organizations, municipalities, and consortia that are investing in infrastructure or implementing strategies to advance regional priorities in eastern Ontario.
The Community Economic Development Stream supports community economic development projects that lead to business growth, generate broad positive economic impacts, and encourage innovation, collaboration, and cluster development.
Applicants may receive up to 50% of eligible project costs for a maximum of up to $1.5M in grant funding.
Eastern Ontario Development Fund (EODF)
Eligible Applicants
Eligible Regions
Applicant companies must operate in eastern Ontario to qualify for EODF. Eligible regions include:
- Frontenac;
- Haliburton;
- Hastings;
- Kawartha Lakes;
- Lanark;
- Leeds and Grenville;
- Lennox and Addington;
- Muskoka;
- Northumberland;
- Ottawa;
- Peterborough;
- Prescott and Russell;
- Prince Edward;
- Renfrew; and
- Stormont, Dundas and Glengarry.
Business Stream
To qualify for the Eastern Ontario Development Fund, applicants must:
- Have been in operation for at least 3 years;
- Commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees);
- Have 10 or more FTEs or, if in a rural community, 5 FTEs;
- Be located in, or plan to locate in, a community in eastern Ontario; and
- Have a project budget greater than $500,000 (or $200,000 if in a rural community).
Community Economic Development Stream
To qualify for this stream of the Eastern Ontario Development Fund, applicants need to align under the eligibility criteria:
- Project must be led by municipalities, economic development organizations, or sector organizations;
- Invest more than $100,000; and
- Have private sector support.
Eastern Ontario Development Fund (EODF)
Eligible Activities
Business Stream
There are three types of projects that commonly receive Eastern Ontario Development Fund grants and loans. Projects must start a minimum 60 days after submission and can have a duration of three to four years. They include:
- Investments in new operations in eastern Ontario;
- Investments in operations that improve productivity, innovation, the potential to export goods, and competitiveness; and
- Investments that create high-value, sustainable jobs in Ontario.
Eligible Expenses: The Eastern Ontario Development Fund (EODF) Business Stream only accepts project costs that are one-time expenses essential to project completion. These may include:
- Project facilities & infrastructure – project facility modifications;
- Specialized expertise – third-party engineering services;
- Materials – materials for configurations and testing;
- Equipment and machinery – CNC machines, robots, etc.;
- Labour – set up/commissioning of new equipment, incremental R&D for a max of two years;
- Training and talent costs – employer-provided training (trainer hours are eligible), training infrastructure; and
- Permits and fees – building permits.
Community Economic Development Stream
The Eastern Ontario Development Fund provides funding to support projects aligned to the following:
- Investments of more than $100,000;
- Projects lasting up to four (4) years;
- Have private sector support;
- Lead to measurable outcomes including private sector investment, growth, and job creation;
- Be led by municipalities, economic development organizations, or sector organizations;
- Be used for activities that are incremental (new) to the organization; and
- Focus on economic and business development and job creation in the community or region by investing in infrastructure or implementing strategies to advance regional economic development priorities.
Eligible Expenses: The Eastern Ontario Development Fund (EODF) Community Economic Development Stream only accepts project costs that are one-time expenses essential to project completion. These may include:
- Specialized expertise;
- Business attraction costs;
- Project-related permits, fees, and other similar charges;
- Equipment and machinery required for the project;
- Municipal economic infrastructure that addresses a community priority;
- Skills training;
- Project facility modifications and/or upgrades required for the project;
- One-time internal labour (project-specific); and
- One-time materials (project-specific).
Eastern Ontario Development Fund (EODF)
Program Deadline
Applicants should prepare well in advance of EODF’s funding intake periods to make the most of their upcoming strategic growth projects. Application deadlines are as follows:
- Application Period Fifteen: December 7, 2023 – February 8 2024.
- Application Period Sixteen: April 11, 2024 – May 30, 2024.
Speak with a member of our team to find the latest intake periods for this program or subscribe to our newsletter to be notified.
Demande de Financement
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Eastern Ontario Development Fund (EODF) News
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