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€50 million has been allocated from competitive government funds in the last two weeks.
Seán Canney TD, Minister of State at the Department of Rural and Community Development, has heralded the success of projects within the Atlantic Economic Corridor (AEC) area in securing investment from a number of competitive government funds in recent weeks.
Funding in the order of €50 million has been allocated to projects in the AEC region, which runs from Donegal to Kerry.
Speaking today, Minister Canney said:
Examples of projects approved for funding include:
Minister Canney continued:
Atlantic Economic Corridor
The Atlantic Economic Corridor is a collaborative initiative between the public and private sectors to maximise the assets along Ireland’s western seaboard and connect the economic hubs, clusters and catchments of the region to attract investment, support job creation and contribute to the government’s regional development objectives.
The counties covered by the AEC area are: Donegal, Leitrim, Sligo, Roscommon, Mayo, Galway, Clare, Limerick, and Kerry.
The AEC initiative is overseen by a taskforce chaired by Minister Canney. The taskforce comprises representatives from key government departments, public bodies, the business sector, local and regional government bodies and third-level institutions. For further information, click on the following link: AEC website
Rural Regeneration and Development Fund
As part of Project Ireland 2040, the government has committed to providing an additional €1 billion for a new Rural Regeneration and Development Fund over the period 2019 to 2027. The fund will provide investment to support rural renewal for suitable projects in towns and villages with a population of less than 10,000, and outlying areas.
Details of the projects approved under the Rural Regeneration and Development Fund are available at the following link: Rural Regeneration and Development Fund.
Urban Regeneration and Development Fund
The Government has committed an additional €2 billion for an Urban Regeneration and Development Fund over the period 2019-2027. The aim of the Urban Regeneration Fund is to stimulate new residential and commercial development in our larger cities and towns and to encourage smart, compact urban development also one of the National Strategic Outcomes of the NPF.
Details of the projects approved under the Urban Regeneration and Development Fund are available at the following link: Urban Regeneration and Development Fund approvals list
Regional Enterprise Development Fund
The Regional Enterprise Development Fund supports major new collaborative and innovative initiatives that can make a significant impact on enterprise development in the regions or nationally to build the unique capabilities to grow the regions.
Initially allocated €60 million for two rounds of funding, the fund will now operate on a rolling basis as part of Project Ireland 2040. The fund is delivered by Enterprise Ireland on behalf of the government.
Details of the projects approved under the Regional Enterprise Development Fund are available at the following link: Regional Enterprise Development Fund approvals.