New €28million border stimulus fund to benefit Donegal businesses in response to Brexit

 

Donegal is one of six counties that will benefit from the border stimulus fund

How Brexit will affect Dundalk's border with the North

Donegal is one of six counties that will benefit from a new €28million border stimulus fund to drive enterprise and boost businesses in response to Brexit. 

The Border Economic Stimulus Package is being provided through the Department of Business, Enterprise and Innovation across six counties.

It includes €3million for Local Enterprise Offices to run mentoring programmes for businesses focused on boosting exports, embracing innovation and improving management and financial skills capability.

There will also be an €8.5million Brexit Transformation Fund to enable Enterprise Ireland to support individual company capital projects to make them more resilient to Brexit impacts, including through diversification of product and markets.

There will be €1.5million for industry research fellowships, administered by Science Foundation Ireland, and targeted for researchers to take up placements in industry, with their new energy and specialist expertise.

The package will also include a €15million competitive Border Enterprise Development Fund, administered by Enterprise Ireland, which is now live, accepting proposals for initiatives like enterprise hubs and other opportunities to build capacity for entrepreneurship programmes and ready for export business.

Minister for Education and Skills Joe McHugh has welcomed the investment package. 

“Business and enterprise in Donegal are being offered a golden opportunity in this specially targeted €28million fund,” Minister McHugh said.

 “Not only is the fund ringfenced to meet the unique demands that Brexit will pose in the coming months but it is also designed to support innovation and competitiveness.

 “The important thing to remember is that the aim of this funding is to have maximum impact on the great talent and businesses we have in Donegal, with such a unique cross border flow of people, goods and services. And this is the Government acting again when it is most needed, as it comes on top of many other measures which are being provided to mitigate against the worst outcomes of Brexit.

 “Business and enterprise and the sector in Donegal is being given a real boost by sharing in the €28million, along with other counties in the region.”

Minister McHugh also called on the Department of Business, Enterprise and Innovation to prioritise Donegal in attracting foreign direct investment to IDA facilities and to put a renewed focus on the county in identifying opportunities to develop new facilities and build on the hugely successful fin-tech sectors and other industries operating nationally and internationally across Donegal.

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