A growing number of local firms in Eastern Ontario are receiving funding (small businesses in Ottawa, Kingston and Belleville just to name a few). These small businesses are accessing programs like The Eastern Ontario Development Fund to help create jobs and successfully grow their businesses. The approximately $2 million investment will help these local businesses create 106 new jobs and retain 301 Eastern Ontario small business jobs.
Cornwall, Prescott, South Stormont Township, and Algonquin Highlands Benefit from EODF Small Business Grants
Among applicants to the EODF program, four firms were selected to receive a total of nearly $2 million in federal funding through the Ontario business grants program.
- UAP Inc. is receiving $324,463 in Eastern Ontario small business funding to help set up a new logistics centre while creating 38 new jobs in South Stormont Township.
- Ontario is investing $1.5 million to assist Olymel in upgrading and expanding its Cornwall plant while creating 50 new jobs and retaining 250 jobs in the process.
- $90,500 in Eastern Ontario business grants will go toward HFI Pyrotechnics to help them add a new manufacturing and assembly line resulting in the creation of 12 new jobs while retaining 40 jobs in Prescott.
- And finally, Heat-Line Corporation is accepting $66,798 in Eastern Ontario small business grants funding to help build a research and manufacturing facility that will create six new jobs and retaining 11 existing jobs in the Algonquin Highlands.
Grants for Small Businesses in Eastern Ontario Overview: EODF Business Stream
The EODF Business Stream supports Canadian small to mid-sized enterprises expanding their businesses to communities in Eastern Ontario. Funds through this Canadian government grants program focus on projects involving investment in new capital equipment, improving existing operations and processes, and pursuing new market opportunities.
- Amount: Up to 15% of eligible expenses, up to a maximum of $1.5 million in non-repayable grant funding for projects with budgets up to $10 million. Projects with budgets that exceed this amount may be eligible to receive a repayable government loan of up to $5 million.
- Timeline: Open.
- Eligibility: Applicants must have been established for at least 3 years, have 10 or more full-time employees, and be located in Eastern Ontario.
Learn more about Small Business Grants and Loans Provided through EODF
The government has committed more than $70 million to the Eastern Ontario Development Fund over the past 5 years, with total investment approaching $700 million. These investment have resulted in the creation of nearly 3,000 new jobs while retaining 12,500 jobs in the region.
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