Vol. 420 No. 6
31 Mrs. Taylor-Quinn asked the Minister for Industry and Commerce the plans, if any, he has to introduce an industrial incentive package to promote the establishment of industries in peripheral and disadvantaged areas; and if he has satisfied himself that the cohesion fund can be used for such developments.
The Industrial Development Act, 1986 provides for an industrial incentive package for all areas of the country including peripheral and disadvantaged areas. The Act gives discretion to the IDA to pay a higher maximum rate of fixed asset support in a number of so called "designated" areas. Industries in designated areas may also qualify for a two thirds remission of rates for ten years at the discretion of the local authority. However, the fact of designation does not automatically guarantee support at the maximum rate, nor does it guarantee rates remission.
IDA grants are eligible for support from the Structural Funds under the Operational Programme for Industry, 1989 to 1993. The arrangements which will apply to Structural Funds and the Cohesion Fund in the period subsequent to 1993 have not yet been determined.
