Eastern Ontario Development Program
The Eastern Ontario Development Program (EODP) advances economic development in rural eastern Ontario by contributing to the development of businesses and communities.
EODP will serve as a catalyst in many communities—encouraging new project development, funding of strategic/planning studies for communities, mobilizing broader community stakeholders/players, and helping to form partnerships that lead to establishing competitive, sustainable local economies. EODP funding serves as a lever for additional investment in eastern Ontario communities by:
- Advancing growth of new and existing businesses in rural eastern Ontario communities;
- Advancing community-led economic development to enhance and diversify local economies; and
- Supporting collaborative economic development projects that benefit multiple communities.
Renewed funding will begin July 2014 with all projects through Northumberland CFDC being targeted for completion by October 31st, 2018.
Overall it is the intent of Northumberland CFDC to carefully invest in local projects that demonstrate sustainability, drive prosperity and job creation/sustainment through innovation, research and development, commercialization, and businesses practices that work to position the area for global competitiveness, export markets, and economic diversification.
Through the 15 individual CFDCs located in eastern Ontario, EODP funding supports recipients whose projects focus on business growth, community innovation and/or collaborative economic development.
Eligible recipients may include:
- Not-for-profit organizations;
- Commercial enterprises;
- Aboriginal organizations; and
- Post-secondary institutions.
Projects in the following priority areas will be considered:
- Expansion of Economic Assets (capacity building)
- Industry cluster development and expansion
- Labour market development (skills gap analysis, skills development, worker transition)
- Strategic planning and research studies
- Business Development and Growth
- New business development
- Training & mentoring
- Business startups
- Existing businesses
- Productivity enhancements (information and communications technologies, energy, new technologies, productivity assessments)
- Market diversification
- Innovation/product development (R&D)
- Succession planning
- New business development
- Business Infrastructure
- Business incubators
- Supply chain analysis and development
The Northumberland CFDC has established a two-stage continuous intake process that will begin July 2014 with a Statement of Intent. Funding is subject to availability of funds.
The completed Statement of Intent may be received in-person at our offices, electronically, or via fax:
Northumberland Community Futures Development Corporation
600 William Street, Suite 600
Cobourg, Ontario K9A 3A5
Upon receipt, your Statement of Intent will be assessed and evaluated against the priorities and eligibilities of the program as outlined in the Federal Economic Development Agency for Southern Ontario (FedDev) EODP guidelines. You should expect to be contacted by the Northumberland CFDC within six weeks following the Statement of Intent submission date as part of our due diligence and assessment processes. Following the assessment you will be provided feedback, and if eligible, may be asked for supporting documentation in order to proceed to phase 2 of the process.
If a project is selected for support, the Northumberland CFDC will prepare a Contribution Agreement with terms, conditions and a funding disbursement schedule. Financial contributions will be subject to a 10% hold-back until the applicant has completed the project, met all project requirements as outlined in the Contribution Agreement. No project is expected to extend beyond October 31, 2018.
Business Development supports innovative SMEs and high growth firms with projects that will lead to the growth of new and existing businesses. This includes initiatives in key areas, such as innovation, productivity improvement, product commercialization, export markets, and regional diversification.
Community Innovation enables community‐led economic development that enhances and diversifies local economies. Working in partnership with collaborative fourth pillar organizations (Not-For-Profit with goals of enhancing community development) CI builds the economic and innovative capacity.
Collaborative Economic Development Projects (CEDP) must demonstrate benefits to multiple communities and promote broad-based collaborative economic development leading to a competitive and diversified economy, while contributing to the successful development of business/job opportunities and prosperous communities.