Companies located in Eastern Ontario that are looking to invest in a facility expansion project should consider the Eastern Ontario Development Fund (EODF). This funding program supports investment in Eastern Ontario, new innovation, and the creation of new jobs. EODF will provide non-repayable funding for up to 15% of eligible project costs, to a maximum of $1.5 million.
The program eligibility criteria are as follows:
- Company currently employs at least 10 employees
- Project will create at least 10 new jobs
- Total project cost is greater than $500,000
- Project will span over a two- to four-year period
Eligible EODF sectors include advanced manufacturing, processing (primary and secondary), life sciences, tourism, information and communication technology, and cultural industries. If a company is looking to invest over $10 million and create more than 50 jobs, a loan of up to $5 million may be available.
NorthBridge has experience in identifying eligible projects for the EODF program and can provide the necessary guidance for the application. Our team of business analysts and technical writers can assist with the completion of application information, the preparation of financial information, the creation of business plans, and the required reporting after application submission.
