Dáil Éireann Debate, Wednesday - 11 June 2014
59. Deputy Éamon Ó Cuív asked the Minister for Jobs, Enterprise and Innovation the maximum financial assistance that can be given to any one enterprise at any one time by the local enterprise offices; and if he will make a statement on the matter. [24809/14]
View answerThe Local Enterprise Offices (LEOs) provide financial supports in the form of priming grants, business expansion grants and feasibility study grants.
The maximum priming grant or business expansion grant payable is 50% of the investment or €150,000, whichever is the lesser. Grants over €80,000 and up to €150,000 are the exception and only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and / or to export internationally. Subject to the 50% limit, a maximum grant of €15,000 per full time job created applies in respect of any employment support granted.
The maximum feasibility / innovation grant payable for the South and East Region must not exceed 50% of the investment or €20,000, whichever is the lesser, while the maximum feasibility / innovation grant payable for the BMW Region must not exceed 60% of the investment or €20,000, whichever is the lesser.
The funding is also subject to the application of the de minimis rule in relation to the overall level of funding provided to any one company.
Under the new LEO structures, an Evaluation and Approvals Committee – comprising of a Chairperson from the local authority, a representative of Enterprise Ireland and five individuals with specific areas of business expertise (i.e., record of entrepreneurship, accountancy experience, knowledge of markets / sectors / technology, and banking / financial expertise) – will evaluate and approve all projects for grant assistance up to €40,000.
For projects in excess of €40,000, the Evaluation and Approvals Committee will evaluate such projects for grant assistance and, if endorsed by the Committee, will then recommend the projects for approval to Enterprise Ireland. All projects seeking approval in excess of a cumulative €80,000 over a three year period will also be approved by Enterprise Ireland in the same manner.
I would add that in addition to grants, the LEOs can provide other assistance such as guidance on other State financial supports, loans from Microfinance Ireland, mentoring and training for start-up and micro businesses.
