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Provincial funds available for businesses in Ontario
Elliot Schiller
The Eastern Ontario Development Fund is a source of funds for business expansion
The Eastern Ontario Development Fund (EODF) gives
money to businesses, municipalities and not-for-profit
organizations for economic development in eastern Ontario.
Likewise, the Southwestern Ontario Development Fund
(SWODF) gives money for economic development in south-
western Ontario.
Both funds are similar, so, in this article we will primarily
focus on EODF. The fund supports projects that create
jobs, encourage innovation, collaboration and cluster
development, and attract private sector investment
Eligible businesses
Two types of funding are available through the fund: busi-
ness and regional.
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 three years of operations/
financial statements; be located in, or plan to locate in, a
community in eastern Ontario; and invest at least $500,000
in their project.
If your business has between five to 10 employees and is
located in small communities, you may be eligible for fund-
ing from the Small Community Program. Note that a small
community is defined as a municipality with a population
less than 20,000 or with a population density of less than
100 persons per square kilometer. In this case, the project
needs a minimum investment of $200,000 over four years
with a 50% increase in current employment.
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 develop-
ment initiatives; invest more than $100,000; have private
sector support; and be used for activities that are new to
the organization. For businesses in the graphic arts indus-
try, you must apply to the business stream.
Eligible sectors
Projects in the following sectors are eligible for funding:
advanced manufacturing (automotive, aerospace, plastics,
clean technologies); life sciences; processing (primary and
secondary); information and communication technology;
tourism; and cultural industries.
Eligible projects
The following are examples of projects eligible for funding
under the EODF/SWODF business stream: New investment
in new operations in Eastern or Southwestern Ontario;
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investment in existing operations to improve competitive-
ness, productivity and pursue new markets or business
expansions involving the introduction of new products or
services. For example, new or modified offerings to the
marketplace to better meet customer and client needs,
entirely new product lines or mandates from within the
corporate group.
Funding Amounts
For the business stream, funding amounts can be up to
15% of eligible project costs for a maximum grant of $1.5
million. Successful applicants are expected to contribute
at least 50% of total costs from your own resources or
through private financing. Applications with 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.
Eligible costs
Costs must be directly attributable to the project. Only
project expenses incurred after a project is approved or
contracted are eligible and do not include ongoing costs
of production or operations. Labour, materials, overhead,
and other costs for the production of saleable items are
not eligible.
How to Apply
The first step in the application process is the eligibility
checklist. Complete the checklist first and submit it to the
Eastern Ontario Development Fund office. After your check-
list is reviewed, a staff member will contact you. He or she
will work with you on the next step: the full application form.
If you have been contemplating a project, but the return
on investment didn’t quite meet your expectations, look
again to see how EODF changes the ROI. Beware that like
all government programs, this can be cancelled at anytime,
so, apply sooner, not later, and as always, you can contact
us for further help.
Geographic areas and eligibility
Download the eligibility checklist at grants.gov.on.ca/
GrantsPortal/en/OntarioGrants/GrantOpportunities/
PRDR017554 .
Elliot Schiller is a Director at Toronto’s Teeger Schiller Inc., a firm
specializing in government funding and systems selection/
implementation. His clients receive over $5 million annually to support
ongoing business innovation. E-mail [email protected],
visit www.FundingHelp.ca or phone 1-888-816-0222 Ext. 102
graphicartsmag.com