Eastern Ontario Development Fund (EODF)
What is it?
The Eastern Ontario Economic Development Fund is a four year, $80
million fund designed to help businesses create new jobs, and invest
in new technologies, equipment or skills training for workers. It
will also support economic development projects that will attract
or retain investment in Ontario-based industries and communities.
Who Qualifies?
Individual businesses - Your projects can qualify under the Business
Stream. The criteria are:
- Your business in Eastern Ontario currently has at least 10
employees.
- The funding will be used for new business activity beyond what
you are doing currently.
- The investment required to undertake the project is more than
$500,000 over 5 years.
- The project will create 10 net new jobs over 5 years.
What is the benefit to your company?
Individual businesses can receive up to fifteen per cent (15%)
of total eligible expenditures to a maximum grant of $1.5 million.
Also, up to 35% of total project costs may come from other public
sector funding sources.
Examples of eligible items:
- new technologies
- equipment
- skills training
What is the other stream?
Economic development offices, business associations and non-government
organizations (NGO's) can apply under the Regional/Sectoral Stream.
Projects must be valued at $100,000 or more.
Fifty per cent (50%) of the project cost could be reimbursed to
a maximum grant of $1.5 million.
Regional/Sectoral Stream Criteria:
- Projects must be focused on economic and business development
or job creation initiatives in the community/regions and must
be aligned with provincial and regional priorities.
- The project value is more than $100,000 over 5 years.
- The project has private sector support.
- The funding will be used for activities that are new or incremental
to the applicant organization or any of the partners.
How do I apply?
Applications for both streams are accepted on a continuous intake
basis.
You will be notified when EODF receives your complete application
and within 45 days of confirmation you will know if your project
has been accepted for funding.
Where can I find more information?
Eastern
Ontario Development Fund website
Phone: 1-866-909-9951
Email: eodf@ontario.ca
