Press release
Minister McConalogue announces opening of the Young Farmers Capital Investment Scheme under TAMS 3
From Department of Agriculture, Food and the Marine
Published on
Last updated on
From Department of Agriculture, Food and the Marine
Published on
Last updated on
Minister for Agriculture, Food and the Marine, Charlie McConalogue, has announced the opening of the Young Farmers Capital Investment Scheme (YFCIS). The scheme is part of the new Targeted Agricultural Modernisation Scheme (TAMS 3) which is provides funding for capital investments on farms and will be in place for five years. It continues the higher support rates for young farmers of 60% grant support.
Minister McConalogue said:
“TAMS 3 is our biggest and strongest-funded capital investment scheme for farmers ever. It has the largest range of investments ever available. Most importantly it helps to drive some of our key ambitions in Irish agriculture which includes of course support for young farmers and generational renewal.
“The launch of the Young Farmers Capital Investment Scheme is crucial in support of young farmers joining the industry. This scheme offers grant aid at the higher rate of 60% for qualifying young farmers for over 300 investment items covering Dairy, Beef, Sheep, Pig, Poultry and Tillage enterprises. These investments cover areas of animal welfare and housing, energy efficiency, and nutrient management, and will assist Young Farmers in meeting capital costs to grow their enterprises."
The YFCIS It’s the eighth scheme to open under TAMS 3 following the successful launch of the Solar Capital Investment Scheme (SCIS), the Animal Welfare and Nutrient Storage Scheme, the Pig and Poultry Investment Scheme, the Organic Capital Investment Scheme, the Low Emission Slurry Spreading Scheme, the Dairy Equipment Scheme and the Tillage Capital Investment Scheme.
The objectives of the Young Farmer Scheme are to:
1. Provide an incentive to young farmers to upgrade their agricultural buildings and equipment by providing them with an increased level of support to meet the considerable capital costs associated with the establishment of their enterprises.
2. Facilitate the Tillage Sector to develop a targeted and precise approach focusing on environmental dividends, efficiency, and growth.
3. Improve competitiveness and contribute to the improvement of agricultural incomes and rural development.
A detailed list of the eligible investments is detailed at Annex B of the scheme Terms and Conditions. All Department Structural Specifications and notices relevant to this Scheme can be accessed on the Department of Agriculture, Food and the Marine website at: TAMS - Farm Building and Structures Specifications.
Grant aid will only be paid on approved, completed, and eligible expenditure and shall be paid at the rate of 60% up to the applicable maximum investment ceiling of €90,000 per holding. Multiple applications per tranche are permissible. However, the minimum amount of investment which is eligible for approval under this Scheme is €2,000 per application.
Young farmer in TAMS 3 means a person who is under 41 years of age at the time of submitting the application, possesses adequate occupational skills and competence, and is setting up for the first time in an agricultural holding as head of that holding.
In the case of a Young Farmer farming with others, a declaration is required that the Young Farmer exercises effective and long-term control over the partnership or legal person in terms of decisions related to management, benefits and financial risks either solely or jointly together with other members of the partnership. A copy of this Declaration is at Annex K of the scheme Terms and Conditions.
Applicants must have completed one of the courses listed in Annex J of the scheme Terms and Conditions, or an equivalent course on or before the date of lodgement of an application for support or, at the latest, within 36 months from the date of issue of department approval to commence works. Where this deadline for completion of the educational requirements is not respected, grant aid will be paid at the standard rate of 40%.
Queries of a technical nature relating to the specifications should be submitted by email to the following email address tams@agriculture.gov.ie
Annex G of the scheme Terms and Conditions lists the contact phone numbers for technical queries.