Areas that have been hit by significant job losses could be in for a boost with the extension of Enterprise Ireland's Community Enterprise Centre scheme.
The scheme will get an extra €7 million in funding between 2006 and 2008 from the Department of Trade, Enterprise and Employment.
Announcing the new funding, Minister for Enterprise, Trade and Employment Micheál Martin said the scheme is designed to help communities to grow local enterprises, particularly in areas that lack existing enterprise space, have experienced significant job losses, or have a poor history of enterprise development
"In the Enterprise Ireland Strategy: Transforming Irish Industrypublished this year, the identification, establishment and development of High Potential Start Up companies is a major objective for achieving regional balance. Ensuring the provision of essential business infrastructure such as incubation space is a practical measure to support this objective," he said.
The scheme has already paid out more than €22 million for 137 projects. There are 95 community enterprise centres in Ireland funded by Enterprise Ireland, accommodating 840 businesses that employ 3,800 people.
