Amount: $1,500,000 in grant plus $5,000,000 in non-interest repayable loan
The Eastern Ontario Development Fund (EODF) provides government 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 and attract private sector investment.
Eligibility Criteria: Eastern Ontario Development Fund (EODF)
- Be located in Eastern Ontario: 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.
- For Business Stream Sub-program
- Employ at least 10 people
- Commit to creating at least 10 new jobs
- Be able to provide 3 years of operations/financial statements
- Invest at least $500,000 in their project
- For small community pilot sub-program
- Employ 5-10 employees and be located in small communities (a municipality with a population less than 20,000 or with a population density of less than 100 persons per square kilometer).
- Minimum investment of $200,000 over 4 years
- A 50% increase in current employment
- Eligible industries
- advanced manufacturing (automotive, aerospace, plastics, clean technologies)
- life sciences
- processing (primary and secondary)
- information and communication technology
- cultural industries
Eligible Cost: Eastern Ontario Development Fund (EODF)
- Project facility modifications/upgrades required for the project (e.g. construction costs/retrofits associated with an expansion to a facility on land already owned by the business, site servicing, power service upgrades, HVAC, new requirements for fire-detection and suppression, embedded energy generation systems, ICT used internally for business/operations integration or to meet specialized customer/client needs)
- Equipment and Machinery required for the project (e.g. new technology, new high performance equipment and machinery, maintenance equipment associated with new technologies or systems)
- 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 (e.g. third-party engineering services, software development, project management, etc.)
- Skills training, including employer-provided training, related to the project
- Project-related permits, fees and other similar charges
- Writing Application Package for the Eastern Ontario Development Fund
- Profitability analysis of the proposed project
- Preparing project financial calculations
- Assisting in report writing once EODF application is approved.
Examples of Projects Funded by the Eastern Ontario Development Fund (EODF):
Epocal manufactures blood diagnostic systems with wireless-enabled technology for hospitals and acute care facilities to support bedside testing of blood gases, electrolytes and metabolites. With $1.5 million in support from the Eastern Ontario Development Fund, Epocal will install two new production lines, upgrade equipment to expand its capabilities and develop a new test card with additional features. The project has a total value of over $10.5 million and is expected to be completed by the end of 2018. Source.