Dáil Éireann Debate, Tuesday - 4 October 2016
595. Deputy Bríd Smith asked the Minister for Jobs, Enterprise and Innovation the general supports client-supported companies can expect from the IDA and any other State agency that fall under her Department's remit. [28049/16]
View answerIDA Ireland’s mission is to attract high-value foreign direct investment (FDI) requiring high skill levels and a sophisticated business environment. To achieve this, the Agency may provide financial assistance to companies wishing to locate or expand their existing operations in Ireland.
These incentives include:
- employment grants;
- capital grants;
- research & development grants; and
- feasibility study grants.
Grant awards are made on the basis of a comprehensive business proposal from the company and only after due diligence has been undertaken by IDA Ireland. They are also subject to regional aid guidelines, which are set by the European Commission.
Enterprise Ireland (EI) works in partnership with Irish businesses to help them start, grow, and expand into global markets. It provides funding and supports for companies – from entrepreneurs with business propositions for a high potential start-up through to large companies expanding their activities, improving efficiency and growing international sales. The availability of all EI supports is communicated in a number of ways:
- The Agency’s website www.enterprise-ireland.com/en/;
- EI’s Development Advisors;
- EI’s regional offices;
- Public calls for applications.
Finally, the Local Enterprise Offices (LEOs) are the first-stop-shop for providing advice and guidance, financial assistance and other supports to those wishing to start or grow their own business. Subject to certain eligibility, the LEOs can offer direct grant aid to microenterprises (10 employees or fewer) in the manufacturing and internationally-traded services sector which, over time, have the potential to develop into strong export entities.
In addition, the LEOs provide a signposting service in relation to other available State supports including, Revenue, the Department of Social Protection, Microfinance Ireland and Education & Training Boards Ireland. For anyone interested in starting or growing a business, the LEOs may be able to offer soft supports in the form of training and mentoring.
In September 2015, a new guide was launched setting out the range of State supports available for the manufacturing sector, which is available on my Department’s website and brings together all these services in a single publication to enable Irish businesses access the support they may not even realise they are eligible for. Details are at: https://www.djei.ie/en/News-And-Events/Department-News/2015/September/14092015.html
In the area of access to finance, a range of initiatives has been introduced - from Microfinance Ireland to the Strategic Banking Corporation of Ireland, and from the Credit Guarantee Scheme to the Ireland Strategic Investment Fund - and continued investment in seed and venture capital through Enterprise Ireland. These initiatives remain available and accessible to business and continue to provide increased access to credit and finance for Irish enterprise.
