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) 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