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September 17, 2013

The fund may provide 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. Applicants can receive EODF funding for one project per year.

The EODF program was made a permanent government program in October 2012 with applications being accepted on a continuous intake basis.

In order to be eligible for the business stream, businesses must:

  • Employ at least 10 people and meet minimum job creation thresholds as outlined in the Business Application Guide
  • Be able to provide 3 years of financial statements
  • Be part of an eligible sector
  • Be located in, or plan to locate in Eastern Ontario
  • Have a multi year project that involves a minimum investment of $500,000 in eligible project costs.

*Note: Businesses with 5-10 employees may be eligible under the Small Community Pilot. Note that because of community density/size restrictions business with 5-10 employees in Belleville are not eligible for the Small Community Pilot.

Objectives

Create and retain jobs, Encourage the introduction of new, innovative approaches, including use of new technologies, Assist in improving competitive position or pursue growth, Diversify the economy of Eastern Ontario.

Tags: Eastern Ontarion Development Fund (EODF)

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The fund may provide up to 15% of eligible project costs to a maximum grant of $1.5 million. For project investments of $10+...

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