Eastern Ontario Development Fund (EODF) Supports Five Manufacturers
Five manufacturers in eastern Ontario have recently been awarded business expansion grants. These companies will use Ontario government funding for building/renovating production plants, purchasing more efficient equipment, and expanding their market reach. As a result, the businesses will improve their overall productivity by providing more products and services, as well as by retaining and creating new jobs within their facilities.
A combined $3,773,202 in business expansion funding has been awarded from the Eastern Ontario Development Fund’s (EODF) Business Stream.
The Eastern Ontario Development Fund provides Canadian small and medium-sized businesses with financial support to expand their operations and allow communities in eastern Ontario to invest in workforce growth. Funding is typically used to offset costs of capital equipment, and to create new market opportunities. EODF provides up to 15% as grant for projects between $500,000 and $10 million to a maximum $1.5 million.
$3.77M in Business Expansion Funding Awarded to Five Manufacturers
The manufacturers who received Ontario government funding specialize in the food and beverage, automotive parts, stone/granite, and laminate industries. The companies are using business expansion grants for projects such as upgrading assembly lines and purchasing new capital equipment to increase their operational capacity. Thanks to the Eastern Ontario Development Fund, these local businesses are boosting regional economic growth by creating 110 new jobs and retaining 496.
A total of $3.77 million in business expansion grants from the Eastern Ontario Development Fund will be shared among five manufacturers.
The companies awarded government funding include:
Canada Candy Company
Canada Candy Company is an established leader of consumer-packaged goods that manufactures and distributes quality bulk foods across North America. They make sugar candy confectionery for retail sale, re-packing and private label at their retail location in North York.
Canada Candy Company is receiving $1,292,400 from the Eastern Ontario Development Fund.
The company is using its funding to build a new state-of-the-art facility in Cobourg dedicated to making and packaging gummy candies. With this new facility, they are insourcing their candy products and creating 29 new jobs.
Armada Toolworks is a global source for the development and manufacture of automotive components and assemblies. Their facility in Lindsay specializes in door handles, vents, speakers, and decorative trim.
Ontario is investing $652,500 in Armada Toolworks’ business expansion projects.
They will install a new assembly line and increase press capabilities up to 1,000 tons. This is helping the company add more high-value products to their line including glove boxes, allowing them to grow their operations and remain competitive. The project is creating 29 new jobs and retaining 257 existing positions.
Mariposa Dairy produces high quality goat and sheep cheese using 100% Ontario fresh goat and sheep milk at their state-of-the-art goat farm in Lindsay. They are Canada’s second largest goat cheese manufacturer with a product line of over 25 cheeses.
$1,079,402 in EDOF manufacturing funding is supporting Mariposa Dairy.
The company is purchasing new automated equipment to increase their current processing capabilities by 60% with new production lines for hard and soft cheese products. In addition, this project is creating 18 new jobs and retaining 85 others.
Muskoka Rock Company
Muskoka Rock Company extracts and cuts Muskoka granite, which is then transformed into a full range of products varying in colours and textures for both interior and exterior use. Their products include building stone and thin veneer, flagstone, flooring, stair threads, and aggregate.
The company is receiving $350,000 in business expansion funding from EDOF.
The funding will be used to build a new manufacturing facility to relocate production of premium granite from outside the province to Huntsville. As well, they are investing in new equipment to create new products for Canadian and international markets. This expansion will lower overall production costs and assist the company’s growth plans. Muskoka Rock Company is creating 18 new jobs and retaining 16 existing positions.
Panolam Industries has provided one of the largest selections of integrated surface products for over 70 years. They design, manufacture, and distribute thermally fused laminate panels and high-pressure laminate sheets for furniture and cabinet manufacturers across the United States and Canada.
$398,000 in Ontario government funding is being awarded to Panolam Industries.
The EDOF funding is going towards upgrading a manufacturing line that will improve plant productivity, solve capacity constraints, and increase their exports across the border. This project is also creating 19 new jobs and retaining 138 other positions.
Business Expansion Grants Through EODF Funding
The Eastern Ontario Development Fund business stream supports the economic development initiatives of growing for-profit businesses in rural eastern Ontario. Most projects that are supported are focused on using the investment to expand facilities, invest in new equipment, and hire/retain employees.
The amount covered by the program depends on the projected project budget:
- Project Budgets Under $10M: Up to 10-15% of eligible project expenses to a maximum of $1.5 million in Ontario small business grants.
- Project Budgets Exceeding $10M: Up to 10-15% of eligible project expenses to a maximum $5 million in repayable funding (government loans). If project performance targets are met, up to $1.5 million of the repayable contribution will be excused and provided as a grant.
The program offers a continuous intake and is currently accepting applications. High priority sectors such as advanced manufacturing, information and communications technology (ICT), life sciences, and primary resources processing are ideal EODF candidates.
To learn more about manufacturing funding and access key tips on growth projects, please download Mentor Works’ Expanding Production in Canada.
Posted: June 12, 2018 by Myra Bredin. Updated: June 12, 2018 by Myra Bredin.