Eastern Ontario Development Fund

This program offers support to businesses and community economic development projects for economic development in Eastern Ontario.

What Is Eastern Ontario Development Fund?

The Eastern Ontario Development Fund (EODF) is a program of the Government of Ontario that provides funding and support to businesses, municipalities, and not-for-profit organizations in eastern Ontario. The EODF was created in 2008 to help attract investment and create jobs in the region.

Eastern Ontario Development Fund Overview

The EODF is a government program that has invested over $1 billion in eastern Ontario since 2008. This investment has helped to create or retain over 20,000 jobs and support the growth of over 2,000 businesses. The EODF can provide financial assistance to businesses, municipalities, and not-for-profit organizations that are working to create jobs, support economic development, and promote innovation in eastern Ontario.

The EODF has helped to create 100 jobs in Cornwall, support the growth of over 100 startups in Ottawa, and generate over $1 million in economic activity in Kingston. The EODF is a key part of the Government of Ontario’s strategy to support the economic development of eastern Ontario.

How Much Funding?

Businesses: Up to 15% of eligible project costs.

Loans: Maximum of $5M

Grants: Maximum of $500,000 for organizations with fewer then 100 employees. Maximum of $1.5M for strategic projects that are foreign direct investments or from companies competing against other jurisdictions.

Community economic development projects: Up to 50% with maximum of $1.5M

WHO QUALIFIES?

– Businesses operating at least three years with at least ten employees (five if rural Ontario)

– Community economic development projects focus on business and economic development

Eligible Activities & Expenditures

This program supports projects that:

– Create jobs and build talent

– Attract and encourage private sector investments

– Lead to business growth and broad positive economic impacts

– Encourage innovation, collaborations, and cluster development

Project related costs

PROGRAM DEADLINE

Application Period 14: August 17, 2023 – October 5, 2023
Application Period 15: December 7, 2023 – January 25, 2024
Application Period 16: March 28, 2024 – May 16, 2024

Get Expert Advice and Support

Our team will review your application and provide funding recommendations within a few weeks. If your project is approved, you’ll receive funding to cover a portion of eligible project costs.

Ready to take your business to the next level? Contact EVAMAX today to learn more and start your application process.

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Eastern Ontario Development Fund

What Is Eastern Ontario Development Fund?