Fairtax is an industry leader in obtaining government funding in Canada. Our dedicated team of Funding Specialists understands the intricacies of government grant and incentive programs, optimally positioning your organization to secure government funding. We cut through the confusion, uncovering the specific financial resources that allow you to focus on growing through innovation, training employees, and taking your operations to the next level.
Eastern Ontario Development Fund (EODF)
The Eastern Ontario Development Fund (EODF) – Business stream aims to provide funding promoting regional economic development in eastern Ontario, supporting capital spending, skills development, productivity enhancements, infrastructure needs, and other similar economic development initiatives. This funding opportunity is designed to support businesses, municipalities , and not-for-profit organizations and encourage economic development in the region.
The Objectives of the EODF – Business Stream Include the Following:
• To create jobs in Eastern Ontario
• To encourage the introduction of new, innovative approaches
• Enhance productivity
• Contribute to the diversification of the regional economy
Up to 15% of eligible costs to a maximum of $1,500,000.
To be eligible, businesses need to:
• 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 Eastern Ontario
• 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