Program Overview – Regional Ontario Development Fund

The Southwestern Ontario Development Fund (SWODF) and Eastern Ontario Development Fund (EODF) – Business streams aim to provide funding to promote regional economic development in Ontario, supporting capital spending, skills development, productivity enhancements, infrastructure needs, and other similar economic development initiatives.

Objectives of the Ontario Development Fund Include the Following:

  • To create jobs in Ontario
  • To encourage the introduction of new, innovative approaches
  • Enhance productivity
  • Contribute to the diversification of the regional economy

Funding

  • Up to 15% of eligible costs to a maximum of $1,500,000

Eligible Projects Must:

  • Invest at least $500,000 in their project (or $200,000 if you are in rural Ontario)
  • Employ at least 10 people (or 5 if you are in rural Ontario)
  • Commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees)
  • Be able to provide 3 years of operations/financial statements
  • Be located in, or plan to locate in, a community in Ontario

Eligible Project Costs Include:

  • Project facility modifications/upgrades required for the project
  • Equipment and machinery required for the project
  • One-time internal labour, including costs to set up/commission new equipment, technology or systems for the project
  • One-time materials, including materials used for configuring  and testing production processes for the project and systems, and materials used for training employees for the project
  • Specialized expertise required for the project or third party services
  • Skills training, including employer-provided training, related to the project
  • Project-related permits, fees and other similar charges

Deadline

Applications will be accepted for this upcoming program until:

January 20, 2020 

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Not sure if your organization qualifies for Government funding? Contact us today at (905) 822-4474 or fill out the form below to schedule a free assessment.

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