Eastern Ontario Development Fund (EODF) — Business project grants
- Open Date : November 5, 2024
- Closing date : January 28, 2024
Overview
Grants of up to $1.5 million for projects that encourage innovation, collaboration, cluster development, job creation and private sector investment in eastern Ontario.
At a glance
Funding available
- Increase performance through digital transformation
- Develop workforce skills
- Maximum amount : 1,500,000 $
- Minimum amount : 200,000 $
- Up to 15% of project cost
- Open Date : November 5, 2024
- Closing date : January 28, 2024
Eligible candidates
- All industries
- Ontario
- For-profit business
- All revenue ranges
- 10 employees minimum
- Rural or Northern Residents
Next Steps
Activities funded
Eligible projects under this grant seek to bolster business growth, enhance productivity, and facilitate market expansion by leveraging new technologies and skill development. The focus is on projects that create significant regional economic impacts and foster sustainable job creation.
- Investments in new equipment and advanced technologies to improve productivity and competitiveness.
- Talent acquisition and workforce training initiatives aimed at skill enhancement.
- Launching new operations or expanding existing ones in Eastern Ontario.
- Initiatives to introduce new products or services, or to explore new markets.
- Projects that offer significant regional economic benefits beyond the applicant company.
Eligibility
Who is eligible?
The Eastern Ontario Development Fund is open to several types of applicants, specifically targeting those who have a stake in economic development within the designated geographic areas of Eastern Ontario. Eligible applicants include:1. Existing Businesses: - Must be a for-profit entity with legal registration in Ontario. - Must have been operating for at least three years with substantiated financial statements. - Should have at least 10 full-time equivalent employees, or at least 5 if located in a rural area. - Commit to a substantial investment amount (minimum $500,000, or $200,000 in rural areas). - Create at least 5 new jobs, or a 30% workforce increase for smaller companies (under 15 employees). - Must be located, or plan to locate, within the specified areas of Eastern Ontario, which include communities like Frontenac, Haliburton, Ottawa, and others.2. Municipalities: - Can apply under the Community Economic Development Project Program.3. Not-for-profit Organizations: - Must engage in projects that lead to community-wide economic benefits.It's important to note that certain types of businesses are excluded from applying, such as entities involved primarily in retail, primary production, and other specified industries. Furthermore, applicants must demonstrate compliance with all relevant legal, tax, and employment standards, and should not actively owe any fees, levies, or taxes to governmental bodies. Additional restrictions may apply, including not stacking with other provincial funding sources.
Who is not eligible
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
- Ongoing operations including maintenance and capital replacement.
- Refinancing of existing business operations.
- Acquisitions and buyouts.
- Restructuring, or relocating to other jurisdictions within Ontario.
- Primary production.
- Retail.
- Construction (for example, residential development).
- Personal services.
- Consulting.
- Electricity generation.
- Waste management/recycling.
- Information and communication services.
- Academic research.
- Stand-alone restaurants and hotels (unless transformative and considered a regional priority).
Eligible expenses
The grant covers project-specific expenses that contribute to business growth, productivity enhancements, or new market access.
- Investments in equipment and new technologies to enhance productivity and competitiveness.
- Costs related to talent acquisition and training to improve workforce skills.
- Expenses for expanding existing operations, including introducing new products or services.
- Costs to enter new markets to foster business growth.
Eligible geographic areas
This grant is available to companies located in specific geographical areas within Eastern Ontario. Eligible locations are defined to enhance regional economic development.
- Frontenac
- Haliburton
- Hastings
- Kawartha Lakes
- Lanark
- Leeds and Grenville
- Lennox and Addington
- Muskoka
- Northumberland
- Ottawa
- Peterborough
- Prescott and Russell
- Prince Edward
- Renfrew
- Stormont, Dundas and Glengarry
Additional information
Here are additional relevant details for this grant:
- The notification of funding decisions is provided within approximately 60 business days after each application deadline.
- Before applying, interested parties are required to speak with a regional advisor to discuss their project and determine program fit.
- Applicants must register on the Transfer Payment Ontario (TPON) system to access the application form.
- Applications must be submitted directly by the prospective recipients and not through any third party or external consultant.
- Entities applying should ensure they are compliant with all applicable laws and not owe taxes to the Government of Ontario.
- The grant cannot be "stacked" with any other provincial funding programs, with the exception of supports provided through complementary services.
- Performance-based grants require adherence to specific obligations, and funding agreements will outline penalties for non-compliance.
- The province may publicly report on project status, government support amounts, and results achieved.