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Eastern Ontario Development Fund Ministry of Economic Development

Eastern Ontario Development Fund Ministry of Economic Development. EODF Program Overview. $80M fund over 4 years to attract investment and support job creation in Eastern Ontario Business Stream funding objective Create and retain jobs

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Eastern Ontario Development Fund Ministry of Economic Development

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  1. Eastern Ontario Development Fund Ministry of Economic Development

  2. EODF Program Overview $80M fund over 4 years to attract investment and support job creation in Eastern Ontario Business Stream funding objective Create and retain jobs Assist private sector firms invest in growth to pursue new products or new markets and improve their competitive position Eligible applicants + projects For profit businesses, with a minimum of 10 FTE employees, and with ability to provide three years of financial statements Company commits to create minimum of 10 jobs Minimum project size $500K over 5 years 2

  3. Business Stream Form of Assistance Grant 15% of eligible expenses, maximum grant $1.5M Business brings minimum 50% of investment; government stacking permitted Discretionary, non-entitlement program Eligible expenses include one time, project specific expenditures: Building retrofits and expansions Project-related infrastructure Project-related capital expenses directly attributable to the project One-time labour and materials Intellectual capital (e.g. specialized, unique expertise). Skills training Costs of permits, inspections, fees 3

  4. Project examples Successful EODF projects to date have had a clear economic impact. They come from a variety of sectors and locations in eastern Ontario. $213,000 to Powerbase Energy Systems Inc. to create 33 jobs over three years and commercialize a small scale biogas systems for Canadian agriculture. $1.3 million to St. Albert Cheese Co-operative to upgrade 26 jobs and create 10 new jobs over five years, as well as invest in new production technologies and enhance its competitiveness. $654,707 to Ross Video Limited to create 18 new jobs over three years. The project will invest in new production equipment and specialized training to boost the company’s capabilities in high definition (HD) video technology. $129,153 to KIMCO Steel Sales Limited to create 10 new jobs. The project will support the purchase of new equipment that will increase the competitiveness of its automobile recycling operation. $150,000 to Minimax Express Transportation Inc. to create 12 new jobs over four years. The investment will help Minimax offer enhanced logistics services and secure new contracts

  5. Project examples $101,625 to Tulmar Safety Systems Inc. to create 12 full-time jobs and upgrade 3 existing ones over five years. The project will design new safety systems for the aerospace and defence industries, which will open up export opportunities. $178,000 to Electrolab Training Systems to create 25 full-time jobs over five years and support the creation of additional jobs at one of its suppliers. This project is a multi-year expansion of the company’s training system to American and International markets. $896,950 to Scott Environmental Group Ltd. to create 18 full time and 10 part-time jobs over two years. This project will support the establishment of Eastern Ontario’s first state-of-the-art organic processing plant in Kingston. $315,300 to Seaway Yarns Limited to create 10 jobs and upgrade 12 others over five years. The project will invest in new, state-of-the-art equipment, and help the company expand its product line.

  6. For more information www.ontario.ca/easternfund 1-866-909-9951 eodf@ontario.ca Regional staff www.ontario.ca/easternfund-contacts

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