Incentives & Funding

Eastern Ontario Development Fund - Ministry of Economic Development

Program Responsibility: Ontario Ministry of Economic Development

Program Description:

The Eastern Ontario Development Fund (EODF) is an $80 million fund providing project-based conditional grants to support both the private sector and to public sector organizations undertaking economic development initiatives in Eastern Ontario.

Businesses that invest $500,000 or more in qualified projects that create at least 10 jobs over five years are eligible for up to 15 per cent support. For agencies, associations and NGOs, the fund will invest up to 50 per cent for eligible economic development projects valued at $100,000 or more.

Eligibility Criteria:

Business Stream
Firm must be located in Eastern Ontario or will be locating in Eastern Ontario by the time the project starts and currently employ at least 10 people (FTEs).

Regional Sector Stream
EODF is targeted to support business expansion/retention and attract foreign investment in projects focused on sectors such as Manufacturing; Processing; Tourism; Business services; Cultural industries; Technology (e.g. information and communications, digital media) and Green technologies (environmental services.)

Types of projects

• New investment
• Upgrades to existing operations to improve competitiveness, pursue new markets
• Business expansions (existing operations) which move the operation in a new direction
• Introduction of new products or services by an existing business
• Retention projects that reposition a company for improved competitiveness and growth

Eligible project costs
Eligible costs generally relate to one-time expenditures to implement a specific project.

• Building retrofits, acquisition of special purpose buildings
• Project-related infrastructure
• Project-related capital expenses directly attributable to the project, including new technology/upgrades, new high performance equipment and machinery etc.
• One-time labour and materials
• Intellectual capital
• Skills training
• Costs of permits, inspections and other fees directly related to the project.

Funding:

Business Stream

• EODF provides up to 15 per cent of the total eligible project expenses for new technologies, new equipment, or skills training for employees.
• Successful applicants are expected to contribute at least 50 per cent of total project costs from their own business resources or through private financing. Of the remaining 50 per cent, 35 per cent can come from other public sector funding sources (examples: federal, provincial or municipal programs or other public institutions).
• Only projects with total eligible project costs of $500,000 or more are eligible for funding consideration.
• Maximum funding from EODF is up to $1.5 million per approved project.

Regional/Sectoral Stream

• EODF will invest up to 50 per cent for economic development projects valued at $100,000 or more.

Miscellaneous/Other Information:

The EODF program is a discretionary non-entitlement program. Even if an application meets all of the program's objectives and eligibility criteria, the Government of Ontario is under no obligation to approve funding.

Applicants will know if their proposals are successful within 45 days of receiving confirmation of a complete proposal.

Contact Information:

To apply or get more information, visit: www.ontario.ca/easternfund or call 1-866-909-9951.
Email: eodf@ontario.ca