asked the Minister for Industry and Commerce if he will state (a) the different regions in the country where incentive grants to attract industry are obtainable and (b) the percentage value of grants towards the cost of the industry, tax and rate relief, et cetera, and all the relevant details.
Written Answers. - Industrial Incentive Grants.
181.
Under the Industrial Development Act, 1969, grant incentives to industry are available in all areas in the State.
In the designated areas the statutory limit on capital grants is 60 per cent of eligible expenditure for new industry and 35 per cent for re-equipment, while in non-designated areas the corresponding limits are 45 per cent and 25 per cent. In practice the grants for new industry are at present limited to 50 per cent in designated areas and 35 per cent in non-designated areas.
Certain incentives are unique to the designated areas; namely, an investment allowance for tax purposes of 20 per cent of expenditure on plant and machinery and a reduction of two-thirds on local rates for industrial buildings for a ten-year period.
Incentives available generally are the tax relief on export profits, free depreciation for capital expenditure on new plant and machinery, training grants, grants of up to £15,000 for research and development projects, an initial allowance for tax purposes of 20 per cent of expenditure on industrial buildings and an annual allowance of 22 per cent thereafter.