Eastern Ontario Development Fund — Community economic development projects
At a glance
- Max. $1,500,000
- 50% of project cost
- Open Date : March 28, 2023
- Closing date : May 16, 2024
- All industries
- Government of Ontario
Overview
Eligibility criteria
The eligibility criteria for the Eastern Ontario Development Fund grant are as follows:
- Businesses need to have at least 3 years of operations/financial statements.
- Businesses must employ at least 10 people (or 5 if in rural Ontario).
- Businesses should commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees).
- Businesses must invest at least $500,000 in their project (or $200,000 if in rural Ontario).
- Businesses need to be located in, or plan to locate in, a community in eastern Ontario.
- Community economic development projects need to be led by municipalities, economic development organizations, or sector organizations.
- Projects should focus on economic and business development, job creation, and have measurable outcomes including private sector investment, growth, and job creation.
- Projects must invest more than $100,000, have private sector support, and be used for activities that are new to the organization.
Who is eligible
Eligible types of companies for the Eastern Ontario Development Fund grant must meet specific criteria such as having at least 3 years of operations/financial statements, employing at least 10 people (or 5 in rural areas), committing to creating new jobs, and investing a minimum amount in their project.
- Companies with at least 3 years of operations/financial statements.
- Businesses employing at least 10 people (or 5 in rural areas).
- Companies committing to creating new jobs.
- Businesses investing a minimum amount in their project.
Who is not eligible
Some types of companies that are not eligible for the Eastern Ontario Development Fund grant include:
- 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 (e.g., 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
Eligible expenses for this grant include:
- Project costs related to business growth, productivity improvement, innovation, and skills development
- Investments in infrastructure and strategies for economic development
Eligible projects & activities
There are eligible projects and activities for the Eastern Ontario Development Fund grant:
- Business projects focusing on growth, productivity improvement, innovation, skills development, and job creation.
- Community economic development projects led by municipalities, economic development organizations, or sector organizations to advance regional economic development priorities.
Eligible geographic areas
There are specific eligible geographic areas for this grant in eastern Ontario:
- 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
Evaluation & selection criteria
The selection process for the Eastern Ontario Development Fund grant includes the following evaluation and selection criteria:
- Alignment with the fund's goals of investment attraction and job creation
- Provide economic benefits such as job creation, contributing to the region, or developing the sector
- Achievability, requiring applicants to have the necessary financing, project management structure, and experience to implement the project
How to apply
- Step 1: Complete the online self assessment tool.
- Content: Business Stream, Community Stream
- Step 2: Contact a regional advisor for help with your application.
- Content: Consult with a regional advisor for assistance with the application process
- Step 3: Register for Transfer Payment Ontario.
- Content: Register with TPON for grant funding
- Step 4: Work with your regional advisor to complete the application form and submit it on TPON along with the required supplemental information.
- Content: Collaborate with the regional advisor to finalize the application
Eastern Ontario Development Fund Overview
The Eastern Ontario Development Fund provides financial support and services for businesses, municipalities, and not-for-profit organizations to promote economic development in eastern Ontario. The fund aims to help companies grow, enhance productivity, invest in innovation, and create sustainable jobs. It offers funding, complementary services, and support to eligible projects.
Eastern Ontario Development Fund Detailed Explanation
The Eastern Ontario Development Fund is a provincial initiative designed to assist businesses, municipalities, and not-for-profit organizations in eastern Ontario with projects that contribute to economic growth and job creation. The fund focuses on supporting initiatives that lead to business expansion, productivity improvements, innovation investments, and market diversification. By providing financial assistance and expertise, the program aims to facilitate regional economic development, promote entrepreneurship, and foster sustainable job creation in the eastern Ontario region.
Businesses seeking support from the Eastern Ontario Development Fund must meet specific criteria, including demonstrating operational history, job creation commitments, investment thresholds, and location requirements. The fund supports projects that are distinct from ongoing operations and have the potential to benefit the organization and the broader community through growth, market access, and job opportunities.
Eligible projects may receive funding, loans, or grants based on the project costs, with restrictions in place to prevent stacking funding from other provincial programs. The fund also offers complementary services and support to assist with advisory services, environmental compliance, skills development, and tax credit information, tailored to the needs of each project.
Community economic development projects led by municipalities or economic organizations focus on infrastructure investments and strategic initiatives that advance regional economic priorities. These projects are assessed based on their potential to generate private sector investments, create jobs, and achieve measurable outcomes that contribute to the economic development of the region.
Application deadlines are structured to accommodate four intake periods per year, with a thorough review process to ensure projects align with the fund’s objectives and have the capacity to deliver economic benefits. Prior to submitting an application, applicants are encouraged to engage with regional advisors to assess project fit, receive guidance on application preparation, and access necessary support services.
Successful projects demonstrate alignment with the fund's goals, economic viability, and the ability to achieve proposed outcomes. By leveraging the resources and expertise provided through the program, businesses and communities in eastern Ontario can pursue growth opportunities, enhance competitiveness, and contribute to the sustainable economic development of the region.
