Dáil Éireann Debate, Thursday - 24 October 2024
63. Deputy Pádraig O'Sullivan asked the Minister for Enterprise, Trade and Employment the number of businesses in Cork city and county that have registered for, and drawn down, the increased cost of business grants since the scheme's criteria were widened in May; the value of payments for city and county, in tabular form; and if he will make a statement on the matter. [43413/24]
Amharc ar fhreagraThe Increased Cost of Business Scheme (ICOB) has successfully paid out €244m to date to 75,000 SMEs right around the country, including over 38,000 SMEs in the retail and hospitality sector. The ICOB scheme is now closed to registrations.
In answer to the Deputy's question, I can report the following statistics for Cork City and County.
To date, Cork City Council has paid out over €14m to eligible businesses. 3,602 businesses received over €9m in the first ICOB payment and 1,896 businesses in the retail and hospitality sectors received over €5m in the second ICOB payment.
To date, Cork County Council has paid out over €15m to eligible businesses. 5,531 businesses received over €9.5m in the first ICOB payment and 2,819 businesses in the retail and hospitality sectors received over €5m in the second ICOB payments.
I recently announced the Power Up grant Scheme which has a budget of €170m. Power Up is a €4,000 grant that will be available to businesses in the hospitality and retail sectors that received a second payment under the Increased Cost of Business Scheme and who continue to meet the eligibility requirements.
1,896 businesses in the retail and hospitality sectors who received the 2nd payment of the ICOB grant in Cork City Council and 2819 business in those sectors who received the ICOB grant in Cork County Council are in line to receive €4,000 if they continue to meet the eligibility criteria.
|
Local Authority |
First ICOB approvals |
Amount of first ICOB payment out |
Second ICOB payment |
Amount of Second ICOB payment out |
Total paid out |
|
Cork City |
3,602 |
€9,208,673 |
1,896 |
€5,162,522 |
€14,371,195 |
|
Cork County |
5,531 |
€9,843,869 |
2,819 |
€5,236,194 |
€15,080,063 |
