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New aid to be offered to regional areas for job creation

A new regional aid map outlining parts of the country where the State can provide investment aid ...
Newstalk
Newstalk

11.52 25 Apr 2014


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New aid to be offered to regio...

New aid to be offered to regional areas for job creation

Newstalk
Newstalk

11.52 25 Apr 2014


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A new regional aid map outlining parts of the country where the State can provide investment aid to businesses is being launched today. The plan aims to target employment in certain areas is expected to take effect from July 1st.

It has been drafted by the Department of Jobs, Enterprise and Innovation under the new EU guidelines.

County Kerry and towns including Kells, Athy and Arklow have all been added to list of areas fully eligible for the government aid.

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The Department of Enterprise, Jobs and Innovation says it represents £a significant win for Ireland", in the context of the original proposals from the EU Commission.

Ireland engaged intensively with member-states and the Commission in order to deliver changes which are reflected in the map.

Under the new map, areas accounting for 51.28% of the Irish population will be eligible for State Aid. This represents an increase from 25% originally proposed by the Commission, and an increase from the 50% under the 2007-2013 plan.

Aid rates (30% for small enterprises, 20% for medium-sized enterprises and 10% for large enterprises) will stay the same under the new plan - but the Department says that the original Commission proposals would have involved a reduction.

Jobs Minister Richard Bruton explains how the scheme works.


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