Up to €60 million will be available from Monday to fund projects geared at creating jobs outside Dublin under a initiative launched by the Government and State development agency Enterprise Ireland.
Minister for Jobs, Mary Mitchell O'Connor and Minister of State for Small Business Pat Breen will launch a new regional enterprise development fund which will make up to €60 million available to help create jobs.
Ms Mitchell O’Connor’s department is providing the cash through Enterprise Ireland, the State agency charged with supporting the development of Irish industry. The move is part of the Government’s regional job-creation and rural development action plans.
The fund aims to support non-profit organisations sponsored by the likes of higher education bodies, State companies, local enterprise development groups and councils, in projects that will help create jobs in areas outside Dublin. Enterprise Ireland will seek applications for a share of money from projects that fit under four headings.
Various categories
The first is major change, under which individual developments will qualify for between €2 million and €5 million.
The second category is regionally significant projects, each of which can receive between €250,000 and €2 million, followed by local and community enterprise, which will be allocated between €50,000 and €250,000 each; and industry clusters, under which individual developments involving at least five companies will receive between €50,000 and €250,000.
According to Enterprise Ireland, the money will be allocated in two rounds, the first will provide up to €35 million. The second will provide funding from the balance of the €60 million available for the scheme.
Ms Mitchell O’Connor said the action plan aims to ensure that regions get their fair share of economic investment. “I want to see collaborative projects that will boost the regions by supporting enterprise and creating jobs,” she added.
Enterprise Ireland chief executive Julie Sinnamon said the fund would help develop businesses in every region.
