The EOLC consists of five major partners that together represent the various sectors across eastern Ontario. The partnership was launched in 2015 following the release of the initial regional Economic Development Strategy, designed to tackle issues regarding the economic performance of the region and pursue opportunities to maintain and enhance its economic prosperity. The five partners are:

Eastern Ontario Wardens’ Caucus
Eastern Ontario Mayors’ Caucus
Eastern Ontario Regional Network
Ontario East Economic Development Commission
Community Futures Ontario East

The EOLC's mandate is to lead the implementation of eastern Ontario's regional economic development strategy, characterized by three working groups:

Integrated, Intelligent Transportation System
Workforce Development and Deployment
Technology Integration and Innovation

Through the working groups, the EOLC also serves to:

Act as a conduit for information and policy positions with various stakeholders;
Track and report on the performance of the Eastern Ontario economy, as it relates to the priorities of the Economic Development Strategy;
Undertake advocacy on key economic issues; and
Identify resources and provide recommendations on funding opportunities.