Up to 15% of eligible project expenses to a maximum $5 million interest-free loan or up to $500,000 conditional grant.
Goal of the Program
The Eastern Ontario Development Fund (EODF) supports projects and investments 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 and lead to business growth and broad positive economic impacts.
Eligibility Criteria: Eastern Ontario Development Fund (EODF)
- Be located in Eastern Ontario: Stormont, Dundas and Glengarry; Prescott Russell; Leeds and Grenville; Valley Heartland; 1000 Islands; Frontenac; Prince Edward; Lennox and Addington; Muskoka; North & Central Hastings and South Algonquin; Trenval; Haliburton; South Lake; Northumberland; Ottawa; Peterborough; Kawartha Lakes; Lanark; and Renfrew.
- Business Projects
- 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
- Community Economic Development Projects
- Be led by municipalities, economic development organizations (including sector groups) or consortia
- Focus on economic and business development and job creation in the community or region by investing in infrastructure or implementing strategies to advance regional economic development priorities
- Lead to measurable outcomes including private sector investment, growth and job creation
- Invest more than $100,000
- Have private sector support
- Be used for activities that are new to the organization
Eligible expenses
The objective of the program is to provide financial support and services to help growing companies in eastern Ontario make investments to:
- Construction and project facility modifications or upgrades, subject to Ontario’s approval
- Site servicing, power service upgrades, etc. required to execute the project
A project is a distinct undertaking, separate from ongoing operations, that will result in benefits to the organization such as business growth or access to new markets.
Types of Support: Eastern Ontario Development Fund (EODF)
Business Projects
Funding amount
Up to 15% of eligible project costs.
- LoansUp to 15% funding to a maximum of $5M, interest free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan (to a maximum of $500,000) may be forgiven.
- Grants
Grants are available only for specific circumstances, up to 15% to a maximum:
- Of $500,000 if your company has fewer than 100 employees and is based in rural Ontario (population of your community is less than 100,000 or population density is less than 100 people per square kilometre)
- Of $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions
Community economic development projects
Funding amount
Up to 50% of eligible project costs for a maximum grant of up to $1.5 million.
Restrictions
You are not allowed to combine (or “stack”) Eastern Ontario Development funding with other provincial programs.
Eligibility Timeline
Eligibility checklists can be submitted at any time.
There are four application intake periods per year for full applications. Applicants will be notified of decisions within 60 business days of the application deadline.
- Application Period 17 2024
Application submission period: July 2, 2024 – September 17, 2024.
Notification date: December 11, 2024.
Registration on TPON and consulting with regional advisor regarding your application is advised two weeks in advance of the application deadline.
Review Timeline
Applicants will be notified of decisions within approximately 60 business days of the application deadline.
Reimbursement Schedule
The government provides reimbursement on an annual or quarterly basis (depending on the terms of your contribution agreement) against incurred eligible expenses.
Selection Criteria
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)
How to Start My Application
Start by verifying your eligibility through our eligibility check form.
Our Focus:
- 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.
Eastern Ontario Map
