Eastern Ontario Development Fund Awards $300k Grants to Kawartha Dairy
In August, the Government of Ontario announced it would provide up to $311,200 in small business grants to help Kawartha Dairy expand its facility in Bobcaygeon, Ontario. The investment will support a 54,000 sq. ft. expansion that will allow the company to develop new product lines and explore new export markets. These upgrades will allow the company to boost product quality to compete in domestic and international markets.
The contribution has been provided through the Eastern Ontario Development Fund (EODF), which provides up to 10-15% coverage of project costs to a maximum $1.5 million in Ontario small business grants or up to $5 million in loans. Ontario government funding can be used to support capital investments, equipment purchasing, workforce development, and productivity enhancements. All EODF funded projects must allow the applicant to create new job opportunities within the region.
If successful, this project will support economic development within the region, while also strengthening Ontario’s food processing sector. In addition, Ontario provincial funding will allow Kawartha Dairy to create 10 new jobs and retain a total of 115 existing positions.
Eastern Ontario Development Fund Awards $311,200 in Government Grants
Established in 1937, Kawartha Dairy is a small family-owned and operated business that specializes in dairy products such as, ice cream, butter, and cream. 2017 marks the company’s 80th anniversary; to celebrate their success, Kawartha Dairy, is executing its largest business expansion project to date.
The Eastern Ontario Development Fund (EODF) has awarded the company $311,200 in small business grants to support a new state-of-the-art refrigeration facility. These upgrades, which are expected to cost a total of 7.5 million, will help Kawartha Dairy ensure consistent product quality and explore new product lines.
Ontario government funding will allow Kawartha Dairy to create 10 new jobs and retain 115 existing positions in Bobcaygeon, ON.
Upon the project’s completion, the new refrigeration and frozen distribution will help the company expand its presence and better meet customer demands.
Related Post: Eastern Ontario Development Fund Supports Over 200 Jobs
Eastern Ontario Development Fund Small Business Grants
The Eastern Ontario Development Fund supports large-scale business investments leading to improved productivity and the creation of sustainable jobs. Ontario government funding can be used to help businesses invest in new capital equipment, expand their workforce, improve operational efficiency, and increase export capabilities.
Project budgets will determine the total amount of funding an applicant may receive:
- Project Budgets Under $10M: Receive up to 10-15% in non-repayable funding to offset eligible expenses to a maximum of $1.5 million in Ontario small business grants.
- Project Budgets Exceeding $10M: Receive repayable funding equaling up to 10-15% of the total project costs to a maximum $5 million. If project performance targets are met, up to $1.5 million of the repayable contribution will be excused and provided as a grant.
Throughout its lifetime, EODF has invested nearly $400,000,000 in small business grants to help create and/or retain more than $6,500 jobs in eastern Ontario.
How to Apply for EODF Grants
To get started, businesses in eastern Ontario complete and submit an eligibility checklist to the program. Once reviewed, an EODF program representative will contact you to discuss project details and objectives. Eligible candidates will be asked complete an application package, which includes 3 years of financial statements, project budgets, letters of support, and proof of incorporation. The program offers a continuous intake and businesses may apply at any time; typically, it can take up to 60 business days for applications to be approved.
Contact Mentor Works to determine whether your business is eligible to apply for EODF grants and receive support completing your company’s application process.