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1.75 Million Boost For Irish Seafood Industry

Education & academia

IRELAND - 1.13 million in grant-aid for Irish Seafood Processing companies under the Seafood Processing Business Development Scheme has been announced, as well as a further 623,620 for aquaculture companies under the Commercial Aquaculture Development Scheme.

This represents a total investment of €1.75 million in 15 seafood processing and aquaculture projects. Both schemes form part of the Seafood National Programme 2007-2013, funded under the National Development Plan 2007-2013. Development of both of these areas, seafood processing and aquaculture, are key elements in the recently published 2020 Food Harvest Report.

The Seafood Processing Business Development Scheme is aimed at SME's who have solid business plans focused on adding value to Irish seafood products on both domestic and overseas markets. The qualifying projects all exemplify dynamic ideas in new product development and innovation. Grant-assistance of up to 25 per cent on capital expenditure required for the production of value added products and for improvements in processes and quality beyond legislative requirements is being provided.

The Commercial Aquaculture Development Scheme is aimed at assisting fish and shellfish farmers to invest in their businesses. The approved projects are examples of companies that are looking to improve their efficiency through technology transfer and have a strong focus on quality, matched with the demands of the market. The measure provides for grant aid of up to 40 per cent of eligible capital expenditure.