Eastern Ontario Development Fund (EODF)
The Eastern Ontario Development Fund (EODF) gives money to businesses, municipalities and not-for-profit organizations for economic development in Eastern Ontario.
The Fund supports projects that:
- Create jobs
- Encourage innovation, collaboration and cluster development
- Attract private sector investment
Business Stream: 15% of eligible expenditures to a maximum payment of $1,500,000
- Investments of more than $10 million that also create more than 50 new jobs may be eligible for a loan of up to $5 million.
Regional Stream: 50% of eligible expenditures to a maximum payment of $1,500,000
- You will need to contribute at least 35% of total costs from your own resources or through private financing.
Eligible Applicants – Business Stream
To be eligible for the Business Stream, projects need:
- Employ at least 10 people
- Commit to creating at least 10 new jobs
- Be able to provide 3 years of operations/financial statements
- Be located in, or plan to locate in, a community in eastern Ontario
- Invest at least $500,000 in their project
Eligible Applicants – Small Community Program
Businesses with 5-10 employees located in small communities may be eligible for funding from the Small Community Program. A “small community” is a municipality with a population less than 20,000 or with a population density of less than 100 persons per square kilometer.
To be eligible for the Small Community Program, projects need:
- A minimum investment of $200,000 over 4 years
- A 50% increase in current employment
Eligible Applicants – Regional Stream
To be eligible for the regional stream, projects need to:
- Focus on economic and business development and job creation in the community or region
- Align with provincial and regional priorities, e.g., introducing new forms of innovation, taking part in province-led economic development initiatives
- Invest more than $100,000
- Have private sector support
- Be used for activities that are new to the organization
- Note that if you are a business you must apply to the Business stream.
Projects in these sectors are eligible for funding:
- Advanced manufacturing (automotive, aerospace, plastics, clean technologies)
- Life sciences
- Processing (primary and secondary)
- Information and communication technology
- Cultural industries