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Workshop on new €28m border stimulus package taking place in Dundalk

Workshop on new €28m border stimulus package taking place in Dundalk
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A workshop to discuss the new €28 million economic stimulus package for the border region will take place in Dundalk on Tuesday.

The workshop will take place at The Fairways Hotel at 2pm. Those looking to attend are asked to confirm they are doing so by emailing anne.caldwell@enterprise-ireland.com

At the start of the month the Minister for Business, Enterprise and Innovation, Heather Humphreys TD announced details of a special €28 million economic stimulus package for the Border region. The package, which applies to counties Louth, Donegal, Sligo, Leitrim, Cavan and Monaghan is designed to drive economic activity in the region and ensure that businesses have additional support in mitigating the impact of Brexit.

Announcing details of the stimulus package, Minister Humphreys said: “All of the research shows that the Border region is most exposed to the impact of Brexit. I want to ensure that businesses in the region are supported by Government in responding to the challenges and uncertainties which lie ahead. This is the first time my Department has provided targeted, ringfenced funding to a specific region which represents a strong statement of our commitment to the Border area. Through this package of measures, I want to make businesses in the border region more resilient, more innovative and more competitive so that we can stimulate enhanced economic activity in the region.

The Border Economic Stimulus Package includes:

€3 million for the six Local Enterprise Offices (LEOs) in the border counties for capability development programmes for micro and small firms with ambition;
An €8.5 million Brexit Transformation Fund to enable firms to transform their businesses and diversify markets;
€1.5 million for Industry Fellowships targeted at businesses located in Border counties, administered by Science Foundation Ireland (SFI); and
A €15 million competitive Border Enterprise Development Fund, administered by Enterprise Ireland (EI).

To help stakeholders investigate the viability of potential projects and prepare final submissions for consideration for the €15m Border Enterprise Development Fund, Competitive Feasibility Funding is also available. This will be a grant of €15,000 or 50% of eligible costs, whichever is lesser, available to eligible applicants.

The Minister also announced that as part of the next phase of the IDA’s Regional Property Programme, three new Advanced Technology Buildings will be built in Dundalk, Monaghan and Sligo in 2020. These buildings will be critical as the IDA seek to attract more Foreign Direct Investment to the Border region.