The Ministry of Economic Development, Trade and Employment’s Eastern Ontario Development Fund (EODF) will build on the competitive strengths of eastern Ontario to attract new investment, encourage innovation, and create local jobs.
In 2012, the Ontario government passed the Attracting Investment and Creating Jobs Act, renewing the Eastern Ontario Development Fund (EODF) and creating the new Southwestern Ontario Development Fund (SWODF).
These funds will help diversify and strengthen each region’s economy by encouraging businesses to pursue innovation and new markets, while creating jobs.
The EODF is targeted at existing businesses and economic developers in eastern Ontario who can:
- Create jobs
- Attract investment
- Promote innovation, collaboration, and cluster development.
Eligible projects would enhance productivity and competitiveness; create high-value, sustainable jobs; increase exports; and promote a culture of innovation.
Who can apply and how much support is available?
The Business Stream is available to help businesses pursue growth that creates jobs. Projects can focus on developing new products or markets, increasing productivity, and improving the competitive position of the business.
To be eligible, businesses must:
- Employ at least 10 people and meet minimum job creation targets as outlined in the Business Application Guide
- Be able to provide three years of financial statements
- Be part of an eligible sector
- Be located in – or plan to locate in – eastern Ontario
- Have a multi-year project with a minimum $500,000 investment in eligible project costs.
Businesses with 5-10 employees may be eligible under the Small Community Pilot.
Under the business stream, the EODF may provide up to 15 per cent of eligible project costs to a maximum grant of $1.5 million. Investments of over $10 million that create at least 50 jobs may be eligible for a secured, repayable loan capped at a maximum of $5 million.
Which communities are included?
For the purposes of the EODF, Eastern Ontario is composed of 15 geographic areas, including the entire City of Ottawa.
How can I learn more?
For more information about the Eastern Ontario Development Fund – including application forms and guides and program contacts and more – please contact: