Brexit: Government announces €28m stimulus package for Border region

The Government has announced details of a special €28 million economic stimulus package for the Border region that is designed to mitigate the effects of Brexit and stimulate growth.

The Minister for Business, Enterprise and Innovation Heather Humphreys said the package will apply to counties Donegal, Sligo, Leitrim, Cavan, Monaghan and Louth, and would drive economic activity in the region.

“All of the research shows that the Border region is most exposed to the impact of Brexit,” she said. “I want to ensure that businesses in the region are supported by Government in responding to the challenges and uncertainties which lie ahead.

“This is the first time my department has provided targeted, ring-fenced funding to a specific region, which represents a strong statement of our commitment to the Border area.

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“Through this package of measures, I want to make businesses in the Border region more resilient, more innovative and more competitive, so that we can stimulate enhanced economic activity in the region.”

The package includes €3 million for the six local enterprise offices (LEOs) in the Border counties for capability development programmes for micro and small firms.

There will be €8.5 million for a “Brexit transformation fund” to enable firms to transform their businesses and diversify markets, as well as €1.5 million for industry fellowships targeted at businesses located in Border counties.

Furthermore, the package includes a €15 million competitive "Border enterprise development fund", which will be administered by Enterprise Ireland.

To help stakeholders investigate the viability of potential projects and prepare final submissions for consideration for the Border enterprise development fund, competitive feasibility funding is also available.

This will be a grant of €15,000 or 50 per cent of eligible costs, whichever is lesser, available to eligible applicants.

Ms Humphreys also announced that, as part of the next phase of the IDA’s regional property programme, three new advanced technology buildings will be built in Dundalk, Monaghan and Sligo in 2020.

“These buildings will be critical as the IDA seek[s] to attract more foreign direct investment to the Border region,” she said.

“The funding I am announcing today 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.”

Finally, Ms Humphreys announced that a series of workshops with representatives from her department’s enterprise agencies will take place in each of the six border counties in the coming weeks to raise awareness of the various strands of the funding package.