asked the Minister for Industry and Commerce if he will specify in detail all financial advantages to industrialists in establishing industries in the Shannon Industrial Estate, rather than at centres in the section of County Limerick recently declared an underdeveloped area.
Ceisteanna—Questions. Oral Answers. - Shannon Estate Industries
30.
The financial incentives provided by the Government to encourage the establishment of industries at the Shannon Industrial Estate include grants of up to the full cost of buildings and up to half the cost of machinery and grants for the training of workers, comprising actual wages plus travelling and subsistence expenses, if trained abroad. Alternatively, factories, warehouses or office accommodation can be leased at economic or subsidised rents or purchased outright or a site can be provided on which a company may construct its own building. There is total exemption from income tax and corporation profits tax arising from exports up to 1983.
The incentives provided to attract industrial development to the part of Limerick scheduled in 1963 under the Undeveloped Areas Acts include grants of up to two-thirds of the cost of factory sites, site development, factory buildings, machinery, plant and equipment. Grants are also available towards the cost of training workers on the same basis as at Shannon Industrial Estate. Local authorities are empowered to grant two-thirds remission of rates for ten years on premises provided with the aid of a grant by An Foras Tionscal. Profits arising from exports are exempted from income tax and corporation profits tax for ten years up to 1979-80.