Minister for Defence and Mid West TD Tony Killeen has described the European Commission’s (EC) decision to grant aid major firms locating in the mid-west as a “shot in the arm” for the regional economy.
Major companies will benefit from grant aid of up to 10pc of the value of their investment following the revision of regional investment rules. The EC’s decision was made in response to Minister for Enterprise, Trade and Innovation, Batt O’Keeffe’s submission to the European Commission on a mid-term review of the regional aid guidelines on State aid.
According to Minister Killeen: “This announcement represents a significant shot in the arm for the Mid West economy as it will encourage greater investment in the region which in turn will result in increased employment.”
He continued: “While there has been a number of significant jobs announcements and multi-million euro investment announcements already in recent months, the provision of this grant aid package will encourage even greater numbers of companies to relocate to the Mid West as well as encourage firms to invest in their existing operations here.”
“The decision to restore regional aid to the whole mid-west region goes beyond the recommendation in the Report of the Mid-Western Taskforce which sought aid for a number of business parks in the region. It puts the mid-western region in the same position as the south-eastern region, which covers Carlow, Kilkenny, Wexford, Waterford and South Tipperary, where State aid for large investment projects is already allowed”, concluded Minister Killeen.
Major companies will benefit from grant aid of up to 10pc of the value of their investment following the revision of regional investment rules. The EC’s decision was made in response to Minister for Enterprise, Trade and Innovation, Batt O’Keeffe’s submission to the European Commission on a mid-term review of the regional aid guidelines on State aid.
According to Minister Killeen: “This announcement represents a significant shot in the arm for the Mid West economy as it will encourage greater investment in the region which in turn will result in increased employment.”
He continued: “While there has been a number of significant jobs announcements and multi-million euro investment announcements already in recent months, the provision of this grant aid package will encourage even greater numbers of companies to relocate to the Mid West as well as encourage firms to invest in their existing operations here.”
“The decision to restore regional aid to the whole mid-west region goes beyond the recommendation in the Report of the Mid-Western Taskforce which sought aid for a number of business parks in the region. It puts the mid-western region in the same position as the south-eastern region, which covers Carlow, Kilkenny, Wexford, Waterford and South Tipperary, where State aid for large investment projects is already allowed”, concluded Minister Killeen.
