Dáil Éireann Debate, Tuesday - 18 December 2018
316. Deputy Éamon Ó Cuív asked the Minister for Business, Enterprise and Innovation the grant assistance available to improve competitiveness with improved machinery in the indigenous manufacturing sector in the Dublin and east region; and if she will make a statement on the matter. [53403/18]
View answerSupporting the competitiveness of Irish enterprise is a core focus of both Enterprise Ireland’s and the Local Enterprise Office’s strategy. One of Enterprise Ireland’s financial supports available to eligible client companies is the Capital Investment Initiative. This initiative assists Enterprise Ireland client companies improve productivity and competitiveness through the acquisition of new capital equipment and technology. The fund provides grant support up to a maximum of €250,000.
Client companies are eligible to apply for funding under this initiative if they:
- Are SMEs (as defined by the Official Journal of the European Commission)
- Are a manufacturing and/or an internationally traded services company
- Have 10 or more full time employees in Ireland at the time of application
- Have been generating sales for at least 5 years
- Have not received approval under the fund in the last three years
- Companies submitting an application must be EBITDA positive (earnings before interest, tax, depreciation and amortization) in the previous accounting period or; for at least the previous nine months prior to application and can demonstrate sustainable future EBITDA.
In the period 2015 -2017, Enterprise Ireland has paid companies €7.5 million under the Capital Investment Initiative of which €1.2 million was paid to companies from Dublin and East Region (Kildare, Wicklow and Meath).
The LEOs can offer direct grant aid to microenterprises (10 employees or fewer) in the manufacturing and internationally traded services sectors which, over time, have the potential to develop into strong export entities. Subject to certain eligibility criteria, the LEOs can provide financial assistance within three main categories: Feasibility Grants (investigating the potential of a business idea); Priming Grants (to part-fund a start-up); and Business Development Grants for existing businesses that want to expand.
