O'Dowd says Brexit fund will be of "huge benefit" to Louth

Local Fine Gael TD Fergus O’Dowd has welcomed a new Government stimulus package and said that it will be "of huge benefit to County Louth ahead of Brexit". 

O’Dowd said: "My Fine Gael colleague, the Minister for Business, Enterprise and Innovation, Heather Humphreys, has confirmed to me that a significant Government economic stimulus package worth €28 million is being made available to drive economic activity in the border region and ensure that businesses have additional support in mitigating the impact of Brexit. This is in addition to all of the existing Brexit supports which are already available nationwide. This is a series of bespoke, targeted initiatives designed to deliver maximum impact for the Border region. 

"The Border Economic Stimulus Package includes €3 million for the six Local Enterprise Offices (LEOs) in the border counties, which of course includes the Louth LEO, for capability development programmes for micro and small firms with ambition. It will enable them to pilot a series of mentoring programmes for businesses focused on boosting exports, embracing innovation and improving management and financial skills capability. 

"There is also an €8.5 million Brexit Transformation Fund which will enable Enterprise Ireland to support individual company capital projects to build Brexit resilience through transformation initiatives and diversification of product and markets.

"A €1.5 million fund for Industry Fellowships will be targeted at businesses located in Border counties, administered by Science Foundation Ireland (SFI). It will see researchers take up placements in industry bringing new energy and specialist expertise to businesses in the Border region.

"And finally a €15 million competitive Border Enterprise Development Fund, administered by Enterprise Ireland (EI) will go a long way towards helping businesses in the North East. I am informed that it will have a ground-up approach so that we can support businesses and local authorities who come up with exciting, innovative and collaborative proposals which will make a positive economic impact in the Border region."