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€60m available for job creation in regional development fund

Up to €60m is being made available for projects aimed at job creation in a new regional development fund.

Funding will be provided by the Department of Jobs through the State development agency Enterprise Ireland.

The move, which is being launched by Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD and Minister of State for Employment and Small Business Pat Breen TD, is part of the Government’s regional action plans which aim to ensure that regional parts of Ireland get economic growth and investment.

“Through this fund, I am delighted to be backing local stakeholders to drive their own futures by putting forward their own innovative proposals to deliver sustainable employment,” Minister Mitchell O’Connor said.

Organisations will be able to apply to Enterprise Ireland for funding under four different streams with varying investment levels; the first being major change projects, which will allow organisations to compete for between €2m and €5m in funding per project.
The second stream is regionally significant projects, and applicants will be able to apply for funding of between €250k and €2m per project.

The third stream, local & community enterprise development projects, will see applicants compete for between €50k and €250k in funding per project.
Meanwhile, the final stream, industry clusters, will allow applicants to apply for between €50k and €250k in funding per project.

“This fund will help to ensure the benefits of our growing economy are felt in every region. Harnessing the talent of people in the regions, linking enterprises to the third level sector, keeping entrepreneurs connected, supporting innovation, and putting in place various development programmes for our companies is something we must keep working on,” Minister Breen said.

While the CEO of Enterprise Ireland, Julie Sinnamon, said the funding would support the development of industry clusters which will facilitate knowledge transfer, innovation and collaboration among organisations.

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