€100 Million Brexit Scheme For Irish Agri-food Sector
The Irish Government has launched a new €100 million Scheme for the food processing sector, in recognition of the sector’s unique exposure to the impact of Brexit. The new Capital Investment Scheme for the Processing and Marketing of Agricultural Products will be managed by Enterprise Ireland and is now open for applications.
The Scheme is just one of the ways the Government is helping the agri-food sector. Additional funding has been provided over successive budgets to help the agri-food and fisheries sectors mitigate the impact of Brexit; including the provision of low cost loan schemes, direct aid schemes for farmers, and additional resources for Bord Bia’s work to grow and develop new market opportunities for Irish food and drink.
Julie Sinnamon (pictured), CEO of Enterprise Ireland, said: “The food sector is the largest sector of Irish enterprise and critical to regional employment and prosperity. This fund will allow the primary food processing sector to make the necessary capital expenditure to increase their global diversification in response to Brexit.”
The Scheme will be administered by Enterprise Ireland and will take the form of a competitive call. It is open to large, medium or small enterprises, engaged in the processing and marketing of primary meat and dairy products to apply.
Successful projects will be focused on the production of new and/or improved higher value add products, and/or production processes, required for new markets, and not principally focused on the processing of increased volumes of raw materials.
Applicants will need to demonstrate that the investment underpins sustainable food production, at both farm and processor level, and contribute to balanced, sustainable regional development. All investments under the scheme will comply with national and EU legislative and regulatory environmental requirements and standards.
Eligible projects must have total eligible capital expenditure of at least €1 million, up to a maximum of €25 million. The maximum aid intensity will be up to 30% of the eligible investment costs, up to a maximum direct grant of €5 million.
Interested companies can find out more information from here: Capital Investment Scheme for the Processing and Marketing of Agricultural Products
