Dáil Éireann Debate, Wednesday - 23 January 2013
123. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation the progress that has been made in examining the potential to establish a national community investment fund to create employment; and if he will make a statement on the matter. [3402/13]
View answerThe 2012 Action Plan for Jobs included an undertaking to examine the potential to establish a national Community Investment Fund to promote the creation of employment at a local level. It was envisaged that one-to-one matching funding from the community and/or private sector would be a condition of this fund.
The establishment of such a fund would, of course, be contingent on the availability of Exchequer resources. Given the competing priorities for funding across Government, much of which is supporting other employment creation measures, it has not been possible to proceed with the proposal for a dedicated Community Investment Fund in 2012.
However, there were significant activities and investments over the course of 2012 which focused on supporting employment creation and retention at a local level. For example, within my own Department’s remit, over €18 million was allocated to the 35 County and City Enterprise Boards to provide a range of supports to micro-enterprises and entrepreneurs across the country.
The Microfinance Fund, which was launched in September 2012, will provide loans of up to €25,000 for viable micro-enterprises who have difficulty accessing credit from the banking sector. This initiative will help many small community-based enterprises to start up and grow. In June 2012, the Minister for the Environment, Community and Local Government, Mr Phil Hogan, launched a Local Government Sectoral Strategy to promote employment and support local enterprise. This Strategy outlines measures being taken by Local Authorities to assist enterprises in the areas of business charges, local enterprise supports, procurement, and local development and community-based initiatives.
The Minister of State for Tourism & Sport, Deputy Michael Ring, announced almost €26 million in new funding for local sports projects across the country in December 2012. This was the first round of sports capital funding in four years. Many of the projects selected for funding under the programme will support local employment as sports facilities are improved and upgraded throughout the country.
Recognising the important role that local communities play in job creation, the Government will continue to support local development in 2013 through a range of initiatives such as these across various Departments.
