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Eastern Ontario Development Fund

Description

Eastern Ontario Development Fund

How to get support to expand your business or bring business to your community in eastern Ontario.

The Eastern Ontario Development Fund provides funding 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

The geographic area
Eastern Ontario includes the following 15 geographic areas:

  • Frontenac
  • Haliburton
  • Hastings
  • Kawartha Lakes
  • Lanark
  • Leeds and Grenville
  • Lennox and Addington
  • Muskoka
  • Northumberland
  • Ottawa
  • Peterborough
  • Prescott and Russell
  • Prince Edward
  • Renfrew
  • Stormont, Dundas and Glengarry

Deadline

How to apply

Step 1: contact an MEDG Senior Business Advisor or Ministry regional staff person for help with your application.

Step 2: submit an eligibility checklist and staff will confirm that your project is eligible (mandatory)

Step 3: once you know you are eligible, complete the application forms.

Applications are accepted on an ongoing basis.

Eligibility Requirements

Who is eligible
Two types of funding are available through the fund: business and regional.

BUSINESS STREAM

To be eligible for the business stream, businesses need to:

    • 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

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 kilometre.

Projects need:

    • a minimum investment of $200,000 over 4 years

    • a 50% increase in current employment

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

    • only municipalities, economic development organizations and aboriginal communities are eligible for the Regional Stream. If you are a business refer to the business stream.

Business Stream and Regional Stream Eligible projects
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

    • tourism

    • cultural industries

Eligibility Checklist
The first step in the application process is the checklist. Complete the checklist first and submit it to the Eastern Ontario Development Fund office. After your checklist is reviewed, a staff member will contact you. He or she will work with you on the next step: the full application form.

Funding amounts

Business stream
Funding amount:
up to 15% of eligible project costs for a maximum grant of $1.5 million.
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.
Successful applicants:
you will need to contribute at least 50% of total costs from your own resources or through private financing.

Regional stream
Funding amount:
up to 50% of eligible project costs for a maximum grant of up to $1.5 million.
Successful applicants:
you will need to contribute at least 35% of total costs from your own resources or through private financing.

Note:
You are not allowed to combine (or “stack”) Eastern Ontario Development funding in either stream with other provincial programs.

Selection process
Successful projects need to:

    • align with the fund’s goals of investment attraction and job creation

    • provide economic benefits (create jobs, contribute to the region or develop the sector)

    • be achievable (i.e., applicants need to have the necessary financing, project management structure and experience to implement the project)

Ontario endeavours to assess and make a decision regarding your application within 60 business days of confirming receipt of a fully complete application package.

Program Guidelines

Contact

Regional advice desks
For advice on developing and strengthening your application, you are encouraged to contact our regional office at:
Email: EasternRegionBAS@ontario.ca
Phone: 613-241-3841 ext. 224
Toll Free: 1-800-267-6592 ext. 224

Questions
For more information, please contact us at:
Ministry of Economic Development and Growth
Funding Administration Branch
Email: eodf@ontario.ca
Phone: 613-542-7266

Last updated: August 9, 2017