asked the Minister for Industry and Commerce if he can give the amount in cash grants allocated in 1966 through An Foras Tionscal; the general criteria followed before a firm qualifies for a grant; and whether in the case of a foreign-based firm full investigations are made into its background, potential and investment policy.
Ceisteanna—Questions. Oral Answers. - Foras Tionscal Grants.
45.
The amount of grants approved by An Foras Tionscal during the year ended 31st December, 1966 was £7.85 million of which £4.46 million was in respect of adaptation grants, £3.37 million was in respect of grants for new industries and major development of existing industries and the balance in respect of market development grants.
The criteria for qualification for an industrial grant were laid down in the grant legislation and in general they are that An Foras Tionscal are of the opinion that
(i) the project will provide or maintain employment;
(ii) financial assistance is necessary to ensure its establishment or development;
(iii) it is of a reasonably permanent nature and will be carried on efficiently;
(iv) the project is a desirable one and is soundly based.
In the case of a foreign-based firm, its background, potential and investment policy are investigated as fully as possible.
46.
asked the Minister for Industry and Commerce the total amount of grants sanctioned for industry by An Foras Tionscal to date; and the total sum represented by cancellations of projects since a reply in June last year relating to industrial grants.
The total amount of grants approved by An Foras Tionscal up to 20th February, 1967, was £39,697,000, of which £26,234,632 represents industrial grants, £13,403,417 adaptation grants and £89,286 market development grants.
The total sum represented by cancellations or by the abandonment or postponement of projects since 31st March, 1966, was £1,532,000.