Clock Ticking for changes to Regional Grant Aid

Issued : Sunday 23 February, 2014

I have written to Minister Richard Bruton T.D., pressing for changes to increase the percentage of Regional Grant Aid available to companies investing in the South East.

I understand that a revised Irish Regional Aid Map will have to be submitted by the Government and approved by the EU Commission before the end of June 2014. I believe that when the economic data such as unemployment and Gross Domestic Product for the South East are analysed, as part of the review process, that the case for increasing the Regional Aid available for Waterford and the Region will be unanswerable.

I am aware of the interest that the Minister has taken in addressing the high unemployment situation being experienced in the South East but the latest figures indicate that while unemployment has fallen in the Region there still remains a structural unemployment gap of 4% between unemployment in the South East and the rest of the Country.

I believe that a compelling case for increasing the Regional Grant Aid payable in the South East has been made by many reports on the issue. The South East Regional Authority, the Local Authorities and the business community in the region have all made strong representations based on this research.

This support is needed if there is to be a level playing field and we are to be able to make a positive contribution to the overall economic development of the country.