€28m fund announced to support businesses in Border region

€28m fund announced to support businesses in Border region

A new fund has been set up to help businesses along the border in the wake of Brexit.

Businesses in Donegal, Sligo, Leitrim, Cavan, Monaghan and Louth are set to benefit from the fund, which is worth €28m.

Minister for Business, Enterprise and Innovation, Heather Humphreys says the region will need the support when Britain leaves the EU at the end of this month.

"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," she said.

"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).

The Minister also announced three new advanced technology buildings will be built in Dundalk, Monaghan and Sligo in 2020 to attract more foreign direct investment to the Border region.

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