Among the regional initiatives receiving funding are a co-working space for Monaghan and a remote-work activation scheme in Galway.
Today (8 January) Minister for Business, Enterprise and Innovation Heather Humphreys, TD, announced plans to invest more than €40m to help create jobs across Ireland. The investment will be made under the third call of the Regional Enterprise Development Fund (REDF) – an open national competitive call to support regional projects that drive sustainable job creation.
The 26 successful applications were announced alongside the IDA Ireland 2019 results, and represent all regions of the country. They were described by Humphreys as being “at the cutting edge of innovation” with the “potential to make a real and lasting impact”.
“The Irish economy has had a remarkable turnaround in recent years but we cannot rest on our laurels. Although we have made a lot of progress with six out of 10 jobs created outside Dublin since 2016, some parts of the country are not recovering as quickly as others,” she said.
“The Regional Enterprise Development Fund is about supporting every region to build on its unique strengths and ultimately create sustainable jobs. Collaboration is at its core – among the public and private sectors, within and across regions.”
Projects were selected through a rigorous multi-stage evaluation process managed by Enterprise Ireland, based on criteria that included impacts and value for money, viability and sustainability, and building regional strengths.
Among the initiatives receiving funding are a digital hub and co-working space for Monaghan, a remote-work activation scheme for Galway, a food hub expansion for Kerry, and a cybersecurity and internet-of-things centre for Dublin.
‘Supporting regional enterprise’
Today’s investment brings the total amount awarded under the REDF to almost €100m to date. The fund is an initiative of the Government under Project Ireland 2040 and it aligns with the Future Jobs Ireland framework.
It is administered for the Government by Enterprise Ireland, which yesterday announced that two-thirds of the almost 17,000 jobs created by its supported companies in 2019 were outside Dublin.
The minister said that the €40m plans outlined today will boost that even further. “This strong regional performance is important because we cannot reach our full potential as a country without successful regions,” she said.
“That’s why I have prioritised supporting regional enterprise as minister through initiatives like the REDF. The fund is making a real difference on the ground, so I look forward to seeing these 26 exciting projects translate into jobs and prosperity.”
Julie Sinnamon, CEO of Enterprise Ireland, added: “The REDF is a key mechanism to support balanced regional development and an effective enterprise ecosystem. The fund plays an important role in building greater innovation capabilities in businesses across the regions. It also enhances collaboration between companies and key players in the regional enterprise ecosystem.”
