If you have a great idea that will grow your business—or your local economy— and you’re located in Eastern Ontario, you may be eligible for funding assistance from the Eastern Ontario Development Fund (EODF).

The $80 million fund is targeted to businesses and economic developers. The program supports projects that create and retain jobs, encourages the introduction of new technologies, pursues growth in new markets and contributes to the diversification of the economy of Eastern Ontario.

The Eastern Ontario Development Fund has two funding streams.

• The Business Stream is available to businesses to help them improve their competitive position and pursue growth through the development of new products or new markets. Businesses must have at least tenemployees and a great project idea that will create new jobs in the next five years and help develop new products or pursue new markets. EODF will provide 15 percent of eligible project expenses for implementation of new technologies, new equipment or skills training for employees for projects valued at $500,000 or more.

• The Regional Sector Development Stream is available to economic development offices, business associations or NGOs that have a project that will secure investment, enhance investment attraction and lead to job creation over the next five years. EODF will invest up to 50 percent for economic development projects valued at $100,000 or more.

For further information:

• Phone: 1-866-909-9951 or 613-542-7266
• Email: eodf@ontario.ca