Billy Kelleher
Ceist:215. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation if she will report on Enterprise Ireland's capital investment initiative. [17322/18]
Amharc ar fhreagraThursday, 19 April 2018
Ceisteanna (215)
Freagraí scríofa
In early 2015, Enterprise Ireland launched the Capital Investment Initiative to assist client companies improve productivity and competitiveness through the acquisition of new capital equipment and technology. This initiative, which is targeted at manufacturing and/or an internationally traded services SMEs, provides grant aid of up to a maximum of €250,000. Approved funding under this initiative can be used to purchase new or second-hand equipment including reasonable direct installation costs - second hand equipment must be less than 7 years old and more than €10,000 in value. Refurbished equipment will be evaluated on a case by case basis by Enterprise Ireland Assessor.
In 2018 Enterprise Ireland will run 11 Capital Investment Initiative calls throughout the year. Submitted projects are assessed by the Capital Investment Initiative Committee based on the company's application, financial information and a Commercial Assessment of the project. The approval process takes approximately 8 weeks.
Since the Capital Investment Initiative was launched in 2015 Enterprise Ireland has approved 167 projects to 157 companies under the Initiative. Enterprise Ireland do not report on the number of applications received in any of their competitions. Details of approvals are set out in the table.
|
Year |
Total Approved |
|
2015 |
49 |
|
2016 |
63 |
|
2017 |
37 |
|
2018 (1 Jan to 18 April 2018) |
18 |
|
Total |
167 |