Intake Opens for the Eastern Ontario Development FundOctober 29, 2021
Cornwall Ontario – The latest intake is now open for the Eastern Ontario Development Fund, a fund that has assisted a number of local employers build capacity and increase competitiveness in the Cornwall region.
The Eastern Ontario Development Fund provides support for projects and investments to businesses, municipalities and not-for-profit organizations for economic development in Eastern Ontario. It supports growing companies in eastern Ontario make investments to grow their businesses, improve productivity, invest in innovation and skills development, pursue new markets, create good, sustainable jobs and to generate broad positive regional economic impacts.
To be eligible, businesses need to:
- have at least 3 years of operations/financial statements
- 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)
- invest at least $500,000 in their project (or $200,000 if you are in rural Ontario)
- be located in, or plan to locate in, a community in eastern Ontario
Community Economic Development Projects
To be eligible, projects need to:
- be led by municipalities, economic development organizations or sector organizations
- 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
The following are key dates for the upcoming application period for the Eastern Ontario Development Fund:
- Application Period: October 27, 2021 – December 14, 2021
- Eligibility checklists: December 1, 2021
- Application deadline: December 14, 2021
- Application assessment period (60 business days): December 16, 2021 – March 16, 2022
- Notification date: March 16, 2022
Applicants are strongly encouraged to submit their eligibility checklist a minimum of 10 business days in advance of the application deadline so that they have enough time to register and complete their full applications, if deemed eligible. Businesses interested in submitted a funding application are required to consult a Regional Advisor. The Regional Advisor responsible for the Cornwall area is Denis Lapierre. He can reached at 613.415.8384 or Denis.Lapierre [@] ontario.ca
Programs details are available at https://www.ontario.ca/page/eastern-ontario-development-fund
- The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019.
- Businesses and municipalities can get financial support through the Eastern Ontario Development Fund (EODF) and guided access to a range of complementary services and supports.
- Ontario is investing more than $100 million through the Regional Development Program from 2019 to 2023 to support distinct regional priorities and challenges. The program provides cost-shared funding to businesses, municipalities and economic development organizations to help local communities attract investment, diversify their economies, and plan for long-term sustainability and growth.
- There are typically 3 intake periods per year.