Eastern Ontario Development Fund — Community economic development projects
ON, Canada
Grants for economic development in eastern Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateDecember 07, 2023
- grant_single|closingDateFebruary 08, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Ontario
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Receive a grant of up to $1.5 million to cover up to 50% of eligible costs for projects that focus on job creation and economic and business development in eastern Ontario.
grant_single_labels|projects
The Eastern Ontario Development Fund supports businesses and community projects in specific areas of Eastern Ontario. The aim is to foster economic growth and job creation in these designated regions.
- 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
grant_single|admissibleProjectsExample
$750,000
Hamilton
Building a new community center to enhance local economic development and job opportunities
$250,000
Peterborough
Establishing a new pottery studio to boost local arts and crafts economy
$300,000
Kingston
Launching a vocational training program to improve skills and employment rates
$500,000
Ottawa
Opening a new tech workshop space to enhance local innovation and job creation
$400,000
Toronto
Expanding a local food cooperative to support sustainable food practices
$350,000
Mississauga
Upgrading the local library to provide advanced learning resources and job training programs
grant_single_labels|admissibility
Eligibility for this fund requires the applicant to meet several specific criteria related to their business operations and investment plans.
- The business must have at least 3 years of operations with financial statements.
- The business must employ at least 10 people, or 5 if located in rural Ontario.
- The business must commit to creating at least 5 new jobs, or target a 30% increase in employment for businesses with fewer than 15 employees.
- The business must invest at least $500,000 in their project, or $200,000 if they are in rural Ontario.
- The business must be located in, or plan to relocate to, a community in eastern Ontario.
grant_eligibility_criteria|who_can_apply
The Eastern Ontario Development Fund is open to existing businesses, municipalities, and not-for-profit organizations located in eastern Ontario. Eligible businesses must have at least 3 years of operation, employ a minimum of 10 people (or 5 in rural areas), and make a financial investment in their project. Community economic development projects must be led by local governmental or sector organizations focusing on economic growth, infrastructure investment, and job creation, with private sector support. Projects not related to ongoing operations, acquisitions, or certain specified sectors are not eligible.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain projects and industries mainly related to specific businesses' ongoing operations or core activities. These restrictions are set to align with the program's economic development goals in eastern Ontario.
- Projects related to 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 businesses.
- Construction projects, such as residential development.
- Personal services operations.
- Consulting businesses.
- Electricity generation companies.
- Waste management and recycling industries.
- Information and communication services.
- Academic research.
- Stand-alone restaurants and hotels, unless they are transformative and considered a regional priority.
grant_eligibility_criteria|eligible_expenses
The Eastern Ontario Development Fund provides financial assistance for projects that stimulate economic growth and job creation in eastern Ontario. Eligible projects focus on business growth, productivity improvement, innovation, skills development, market expansion, and community economic development.
- Projects aimed at business growth through strategic investments.
- Initiatives that focus on improving productivity within businesses.
- Projects promoting innovation and skills development.
- Efforts to enter or expand in new markets.
- Community projects that invest in infrastructure supporting economic development.
- Projects that lead to significant job creation and private sector growth.
grant_eligibility_criteria|zone
The Eastern Ontario Development Fund covers eligible expenses related to business and community economic development projects aimed at promoting regional growth.
- Investment in infrastructure or strategies advancing regional economic development.
- Activities that are new to the organization leading to measurable outcomes like private sector investment, growth, and job creation.
grant_single_labels|criteria
The evaluation and selection of projects for the Eastern Ontario Development Fund are based on specific criteria to ensure they align with the fund’s objectives of fostering economic development and job creation in Eastern Ontario.
- Alignment with the fund’s goals of investment attraction and job creation.
- Provision of economic benefits such as job creation and contribution to the region or sector development.
- Achievability, including the necessary financing, project management structure, and experience to implement the project successfully.
grant_single_labels|register
Here are the steps to apply for the Eastern Ontario Development Fund:
- Step 1: Complete Online Self Assessment
- Access the Eastern Ontario Development Fund's website to find the self-assessment tool.
- Complete the self-assessment to determine your eligibility for either the Business Stream or Community Stream.
- Step 2: Contact Regional Advisor
- Reach out to a regional advisor for guidance on your application.
- Discuss your project’s alignment with the program's goals and gather advice for the application preparation.
- Step 3: Register with Transfer Payment Ontario (TPON)
- Create an account on TPON, Ontario's online application system for grant funding.
- Ensure you have your legal business name, Canadian Revenue Agency Business Number, and other official documents for registration.
- Step 4: Complete and Submit Application Form on TPON
- Work closely with your regional advisor to accurately complete the application form.
- Gather required supplemental information and documentation for submission.
- Submit the completed application form and documents on TPON before the deadline.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Complementary services and supports are available whether or not your application for funding is successful.
- Consultations with a regional advisor are required before applying to better align your project with program objectives.
- Notification of the application decision is typically provided within 60 business days of the application deadline.
- Accessing skills and talent, environmental compliance assistance, and tax credit information may be available as additional support for business projects.
- Land-use planning and workforce development navigation support may be offered as additional support for community projects.
Apply to this program
Expanding Business Opportunities with the Eastern Ontario Development Fund
The Eastern Ontario Development Fund is designed to incentivize economic growth by providing financial aid and services to businesses, municipalities, and non-profit organizations in Eastern Ontario. This grant supports projects that focus on business expansion, innovation, skills development, and job creation to foster sustainable regional economic development.
Detailed Insights into the Eastern Ontario Development Fund
The Eastern Ontario Development Fund (EODF) plays a pivotal role in energizing the economic landscape of Eastern Ontario by offering substantial financial backing to various sectors. Aimed predominantly at both existing businesses and community projects, this fund facilitates an environment where innovation meets opportunity, ultimately resulting in significant regional growth and job creation.
Eligible businesses seeking to tap into the potentials of the EODF must align their projects with the fund's comprehensive goals. These are notably centered around increasing business productivity and competitiveness, advancing innovation, and skill development, accessing new market opportunities, and generating widespread economic benefits. For businesses, the fund offers critical resources to help surmount initial investment hurdles, committing up to 15% of eligible project costs in the form of grants or loans. Business projects that exhibit the ability to craft new jobs and attract additional investments gain a competitive edge in the selection process.
For the communities within Eastern Ontario, particularly those spearheaded by municipalities or economic and sector organizations, the EODF provides up to 50% funding of eligible project costs. This robust support framework focuses on projects that inject capital into infrastructure and implement strategic plans that revive or enhance regional economic priorities. By embracing initiatives with measurable outcomes such as private investment increments or substantial job creation, community projects can secure the maximum grant of 1.5 million dollars.
A unique feature of the EODF is its complementary services extended to applicants, regardless of the eventual funding outcome. These services include tailored advisory sessions on environmental compliance, skills, talent acquisition, tax credit maximization, and planning support for land use and workforce development, ensuring the holistic growth of both business and community projects. This strategic advisory framework not only aids in the grant application process but enhances the project execution phase, ensuring sustained success.
Supplementary to funding, the EODF’s flexibility in its application process underscores its commitment to regional advancement. Prior to submission, applicants engage with regional advisors who provide invaluable insights and strategic guidance, enhancing the quality and competitiveness of their applications. Additionally, applicants undergo a stringent selection process wherein they must demonstrate assured financing, project management adeptness, and a cohesive strategy aligned with the fund’s lofty objectives of investment attraction and sectoral growth.
The profound impact of the EODF extends beyond mere financial allocation. It catalyzes a significant ripple effect throughout Eastern Ontario, where empowered businesses contribute to the socio-economic stability of communities, thereby reflecting the fund's overarching mission of sustainable development. As such, businesses and municipalities across the 15 designated geographic areas within Eastern Ontario find in the EODF not just a financial partner but a gateway to transformative growth that mirrors regional economic aspirations.
Eligible parties keen on applying should partake in the multi-step application process: initiating an online self-assessment, registering with Transfer Payment Ontario (TPON), and consulting regional advisors for expert guidance. With structured application periods throughout the year, potential applicants need to meticulously prepare their submissions, thus maximizing their chances of securing funding that accords regional economic upliftment a new dimension.
In essence, the Eastern Ontario Development Fund serves as a cornerstone of economic propulsion, offering not merely financial aid but visionary guidance to projects that promise to steer Eastern Ontario towards a prosperous future. By nurturing innovation, expanding business horizons, and fostering job opportunities, the fund lays a resilient foundation for sustainable economic equilibrium, empowering entities to significantly contribute to the region's growth trajectory.
