EODP Funding

The 2017 – 2 018 call for applications is now CLOSED, the next call for applications will be in January 2018. The application will be available at the time the call for applications is made.

Thank you for your interest in the Eastern Ontario Development Program (EODP). The call for applications is now closed.

Through the federally funded Eastern Ontario Development Program (EODP) Valley Heartland supports the growth of local businesses, community-led economic development to enhance and diversify our local economy and the creation of new sustainable jobs in Lanark and North Leeds.

EODP provides non-repayable funding of up to 50% of eligible costs for approved projects demonstrating measurable economic outcomes such as job creation, increased productivity, creation of new products and entering new markets. Applicants are eligible up to a maximum of $100,000 in EODP contributions. Note: All EODP projects require a matching 50% contribution in funds by the applicant.

1. Funding Streams

Business Development (BD): promotes growth of new and existing businesses in rural eastern Ontario communities.

BD Projects must:

  • Create and/or maintain jobs;
  • Offer sustainable and measureable economic benefits to the local and/or regional economy (i.e., jobs created and/or number of new and/or existing businesses impacted)

 

Community Innovation (CI): advances community led economic development to enhance and diversify local economies.

CI Projects should:

  • Be Innovative;
  • Offer sustainable and measureable economic benefits to the local and/or regional economy (i.e., jobs created and/or number of new and/or existing businesses impacted)

 

2. Eligibility

Eligible Project Recipients:

  • Legal commercial enterprises;
  • Registered Not for profit organizations, whose mandate is to directly support economic development and business growth;
  • Post-Secondary Institutions, whose mandate is to directly support economic development and business growth;
  • Aboriginal organizations;
  • Registered business or organization within our CFDC catchment area; *Applicants must have a federal business number to be considered.

 

EODP Eligible Costs (may include but are not limited to):

Expertise

  • Consultant fees and other professional service

Non-capital

  • Communication and promotion
  • Training (project specific)

Capital

  • Equipment
  • Renovation (related to business development & expansion)
  • Information technology

 

EODP Ineligible Costs (may include but are not limited to):

  • Costs that are deemed not directly related to the project;
  • Costs incurred prior to the eligibility date as defined in the Contribution Agreement;
  • Costs associated with the development of basic websites;
  • Cost of land, building or vehicle purchase;
  • Salaries, wages and other work related payments for new and regular employees, managers or owners;
  • Cost of inventory and core operational costs;
  • Subscription payments and fees;
  • Webhosting fees;
  • Costs associated with financing such as interest, fees, etc.;
  • Losses on investments, bad debts, etc.;
  • Costs related to litigation;
  • Lobbyist fees;
  • Entertainment, hospitality, accommodation and travel expenses;
  1. Funding Priorities

Business Development (BD):

  • Innovation (product innovation and/or development, process innovation)
  • Clean technology
  • Women and youth entrepreneurs
  • succession planning to ensure long term viability of business
  • enhancements to productivity including digital technology, energy, new technologies, productivity assessments
  • market diversification and/or expansion
  • industry cluster development
  • supply chain analysis and development

 

Community Innovation (CI):

  • expansion and/or development of community economic assets
  • projects that advance, enhance and diversify the local economy
  • initiatives designed to improve competitiveness and sustainability of the local economy
  • labour market strategies and development including skills gap analysis and worker transition strategies
  • feasibility studies and strategic plans
  • research to develop community resources
  • creation of business incubators and support for business accelerators

 

4. Funding Parameters

  • Applicants are eligible up to a maximum of $100,000 in EODP contributions;
  • EODP funding will not exceed $100,000 per project or 50% of reimbursement of approved eligible expenses. All costs are net of HST;
  • Funding is not advanced. Approved expenses must be incurred and paid in full by the applicant and then submitted for 50% reimbursement;
  • Any costs incurred prior to the singed Contribution Agreement will not be covered;

 

5. Funding Process

Approval Process

Applications are reviewed by staff for completeness and submitted to the committee for review. The committee is comprised of volunteer members of the Valley Heartland CFDC Board of Directors and is responsible for all funding decisions.

 

Applications are reviewed monthly on a first come, first considered basis. Please be aware that funding is limited and demand is high. Not all eligible projects will receive funding.

 

Project Process

Approved applicants will receive a Contribution Agreement outlining terms, conditions, reporting requirements and funding disbursement schedule. Activity reports and claim forms will be distributed and explained with the Contribution Agreement.

Payments are processed on a reimbursement basis once the claim documents have been submitted along with invoices and proof of payment. Final claim payments will be dispersed after a site visit performed by a Valley Heartland Staff and final report submission.

 

6. Application Forms

Completed applications (with required attachments) must be emailed to eodp@valleycfdc.com. Please note: We recommend speaking to CFDC staff prior to completing an application. Mailed or handwritten applications will not be accepted. Applications that are not completed in full and do not include the required attachments may be deemed incomplete for funding consideration.

 

Required Application Attachments

  • Most recent financial statements and 1 year cash flow projections
  • Professional quotes for project costs (Valid within 90 days from date of submission)
  • Business Plan *(for businesses in operation for 3 year or less)

Please Note: Approved applicants are required to attend a minimum of four Valley Heartland workshops and one Launch lab intake mentoring session during the funding period.

For more information, please contact:

Amber Coville,

Business Development Officer & EODP Coordinator,

 

T: 613- 283-7002 ext. 110

E: eodp@valleycfdc.com

 

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