The initiative, administered by BIM, on behalf of the Department, has earlier this year approved over 7 million in grant-aided capital investment in the seafood processing sector.
This latest tranche is projected to deliver a further 3.5 million in investment and generate 64 additional jobs on top of the 158 jobs already announced by the Minister in May of this year.
BIM have worked closely with Enterprise Ireland and Udaras na Gaeltachta to ensure the companies that presented solid business plans with a clear focus on adding value to Irish seafood were awarded grant aid of up to 25 per cent on capital expenditure.
The qualifying projects all exemplify dynamic ideas in new product development and innovation.
BIMs CEO, Jason Whooley explains the significance of this initiative for the sector: "The positive uptake in this scheme demonstrates the willingness of our Irish seafood sector, despite the current recession, to look to the future and to look at new dynamic ways and methods to develop innovative Irish seafood products."
"Like all businesses, the sector needs to move with the times to compete and we are working with all of these companies to assist them in bringing their business plans to fruition. This scheme alone is projected to result in increased sales of nearly 43 million by 2014".
3.5 Million Investment To Create 64 Jobs By 2014
IRELAND - The Taoiseach, Mr Enda Kenny, announced a further investment of 3.5 Million into the Irish seafood sector to create 64 jobs by 2014, under The Seafood Processing Business Investment Scheme.
