Eastern Ontario Development Fund
The Eastern Ontario Development Fund (EODF) is a program established by the Province of Ontario to help established companies create jobs and remain competitive, in part by investing in innovative technology.
The program is available to companies investing in Cornwall and the surrounding region of Stormont, Dundas and Glengarry.
Qualifying companies may receive up to 15% of eligible project costs to a maximum grant of $1.5 million. For project investments of $10+ million that create 50+ jobs, funding may be available in the form of a secured repayable loan, to a maximum of $5 million in provincial support.
In order to qualify for EODF funding, businesses must:
- Employ at least 10 people and meet minimum job creation thresholds
- Have a multi-year project with a minimum investment of $500,000 in eligible project costs
- Be able to provide 3 years of financial statements
- Be part of an eligible sector (typically manufacturing, logistics, communications or tourism)
- Be located in, or plan to locate in Eastern Ontario
Businesses with 5-10 employees may be eligible under the Small Community Pilot.
The program does not cover all costs associated with an expansion or investment project. Typically the program will cover facility modifications, purchase of new equipment and skills training costs related to the project. A full list of eligibility requirements (including eligible costs) is available from the Ministry.
Applications are accepted on a continuous intake basis. Companies must first complete and submit an Eligibility Checklist which allows for a quick response from the Ministry to confirm the eligibility of the project. Once deemed eligible, companies can then proceed to the full application process. All applicants are encouraged to start by contacting a regional staff person for guidance in developing their application.
For more information about the Eastern Ontario Development Fund including criteria, eligibility, application forms and program contacts, please contact the Ministry of Economic Development, Employment and Infrastructure by calling (613) 542-7266 or visiting their website.
Several Cornwall companies and projects have received EODF support. Read on for more information: