PRESS RELEASE

‘Lucky 13’ – €250,000 investment leads to record-breaking job creation in new Fingal businesses!

 

LEO Fingal has this week approved a record-breaking thirteen job-creation grants to Fingal businesses, the highest level of approvals since the economic downturn. These new and established businesses are creating 24 new jobs immediately with a total LEO investment package of almost €250,000. 43 further jobs are expected to be created by the end of 2015.

The businesses that have just been approved include three food companies, six manufacturing businesses (serving the construction sector, optical products, healthcare and beauty products), innovative filming services, jewellery, software and renewable energy. Stayhold Ltd., a Swords-based innovative business was also approved for second stage funding to accelerate this business’s ambitious global expansion plans.

In early October, LEO Fingal hosted the biggest Local Enterprise Week ever held in Ireland. Highlighting the significance of the grants announcement, Head of Enterprise at Fingal County Council, Oisín Geoghegan, said “We are seeing a significant increase in commercial activity in Fingal. Business confidence is growing and economic growth is translating into real investment in job creation.” “LEO Fingal will continue to foster this growth and help small businesses create new jobs and opportunities”, he said. “This funding we are providing to 13 Fingal businesses will result in 24 immediate new jobs and at least another 43 new jobs before the end of 2015”, he said.

Chief Executive of Fingal County Council, Paul Reid also welcomed this important announcement saying, “I am delighted Fingal’s focus on jobs and the local economy is paying dividends. Since the establishment of LEO Fingal just 6 months ago we are already creating real opportunities for businesses”. “This clearly shows that with the right supports, our small businesses can take centre stage leading economic growth and job creation”, the Chief Executive said.

Since opening its doors at Fingal County Council in May 2014, the Fingal Local Enterprise Office (formerly Fingal County Enterprise Board) has become the “first stop shop” for all start-ups and businesses in Fingal seeking supports from state agencies.

Eligibility for Funding

The thirteen Fingal businesses are in receipt of Business Priming Grants (start-up businesses 18 months). This funding is provided to assist small eligible businesses in the creation of new employment in Fingal. To be eligible for funding the business must be innovative, creating new jobs and operating in a growth sector with prospects to export or internationalise.

Business Priming and Expansion Grants

 

A Business Priming Grant is a business start-up grant available to qualifying small businesses within the first 18 months of start-up. A Business Expansion Grant is for businesses trading more than 18 months. It may be available for sole traders, partnerships or limited companiesThe following criteria apply:

The Business must be located within Fingal

A business employing up to 10 employees

A manufacturing or internationally traded services business

A domestically traded services business with the potential to trade internationally

A domestically traded services business being established by a female returning to the workforce or unemployed persons where the potential for deadweight and displacement does not exist

For all queries regarding grant supports, please go to Fingal LEO website: https://www.localenterprise.ie/Fingal/Contact/Dublin-Fingal-Local-Enterprise-Office.html

About Local Enterprise Offices (LEOs):

As set out in the Government’s Action Plan for Jobs, on 15th April 2014, “Local Enterprise Offices” (or “LEOs”), replaced the 35 County Enterprise Boards around the country. The LEOs have an expanded role in the provision of business supports and are based within the Local Authorities (www.localenterprise.ie)

The activities of the Fingal County Enterprise Board were taken over by the Fingal Local Enterprise Office, which is based in County Hall in Swords. Oisín Geoghegan, former CEO of the Fingal County Enterprise Board, is now the new Head of the Fingal Local Enterprise Office (www.localenterprise.ie/Fingal).