Forestry investment grows above €6m
Irish Forestry Services (IFS) revealed the investment growth when it announced its latest 10-year forestry investment plan.
Strategic Marketing Director, Paul Brosnan said forestry investment by the private sector has reached an all time high and is proving to be one of the fastest investment growth areas in the Irish economy.
“Our last fund, The Fourth Forestry Investment Plan, which closed in May of this year, was oversubscribed by a sum in excess of 1m prior to the closing date,” Mr Brosnan said.
“Annual returns from previously launched Irish Forestry Funds are now returning growth rates greater than that originally predicted which strengthens the attractiveness of investment in tax-free programmes such as forestry.”
Mr Brosnan said recent research conducted by IFS shows that the major priorities for small investors in forestry are the straight forward nature of the product which provides a good solid safe return on their investment.
IFS has maximised the tax-free return from forestry investment and opened up these benefits to the general public through a series of 10-year Forestry Investment Plans which offer a projected tax-free rate of return of 9.6% per annum.
Average investment levels have doubled over the last two years, rising to 6,000.
Prior to the establishment of the Irish Forestry Funds in 1997, small investors were unable to avail of the tax efficiencies, EU and Irish Government grants and premia income available only to farmers and wealthy individuals.
