Province Invests in Ontario East
The Ontario East Economic Development Commission is about ready to move into a new phase of its existence with the announcement yesterday that the Province of Ontario will be contributing over $500,000 to the well established marketing organization.
"This funding will allow us to enhance our capacity to attract investment to Eastern Ontario", said Stephen Paul, President of Ontario East. "We will be using the funds to develop an organizational structure that will result in new economic development investment strategies, improved programming and additional services to our members."
Over the next three years the funding will support the following:
1 - Hiring of a full time Executive Director to strategically lead our organization
2 - Develop marketing and investment attraction programs
3 - Update and enhance our website
4 - Develop and implement business to business and value chain clusters in Eastern Ontario
5 - Present Economic Development practitioner training workshops
The Ontario East Economic Development Commission is group of over 124 Ontario East economic development professionals and business leaders who are working co-operatively to promote the region as a premiere business location. The Commission represents more than 200 communities, thousands of businesses and nearly 2 million residents.
"We have always been proud to be located in Eastern Ontario and to be working with the OEEDC," stated Andy Mitchell, President & CEO of the Greater Peterborough Area Economic Development Corporation (GPA EDC). "We are excited about the opportunities that will be created with the support of this funding, it's great news for the entire region."
The Ontario East Economic Development Commission (OEEDC) was formed in 1988 with 14 members for the purpose of joint marketing and to establish a collective voice for Ontario East on issues affecting economic development. Today, the OEEDC has more than 124 members and represents an area from Kawartha Lakes-Haliburton on the west to Prescott-Russell on the east and from the Ottawa River in the north to the St. Lawrence River in the south.
The OEEDC promotes Eastern Ontario as a preferred location for business investment through a marketing partnership program. The sector-based partnerships conduct activities appropriate to individual sectors such as auto parts manufacturing, food processing and logistics/distribution. Through this co-operative approach to marketing, members can obtain increased exposure for their own communities at reasonable costs.
The funding announcement was made possible by the Province's Eastern Ontario Development Fund.
Eastern Ontario businesses that invest $500,000 or more in projects that create or retain at least 10 jobs over five years are eligible for a grant of up to 15% from the Eastern Ontario Development Fund. The EODF was created by the Province in 2008.
