Limerick City and County Council has announced that 2,894 businesses in Limerick have received €11.4 million in grant funding under the Government’s Increased Cost of Business (ICOB) scheme.
The ICOB grant was designed by the Department of Enterprise, Trade and Employment to help SME’s with the increased costs associated with running a business and was administered by the Local Authorities.
Mayor of Limerick, John Moran welcomed the financial relief for local businesses, saying:
“By working closely with the local business community the Commercial Rates team and other departments at Limerick City and County Council have been able to ensure that nearly 2,900 businesses receive support through the Increased Cost of Business Grant scheme. This €11.4 million in funding not only helps businesses manage increased costs but also strengthens our community’s economic resilience. We are proud to stand alongside our local enterprises, fostering an environment where they can grow and succeed.”
Minister for Enterprise, Trade and Employment, Peter Burke said:
“I was delighted to get Government approval for this important scheme to help small and medium enterprises who are the backbone of our economy. I have spoken to dozens of businesses around the country who availed of the €240m paid out so far and we will continue to work with and support them.
“I would also like to acknowledge the work of the local authorities across the country and thank all the staff involved. They have contributed hugely to the success of the Scheme.”
Dr Pat Daly, Director General at Limerick City and County Council added:
“I’d like to express my gratitude to the Department of Enterprise, Trade, and Employment and my colleagues in the Council for their dedication to supporting the local business community. The funds accessed by businesses in Limerick is demonstrative of their active engagement with us, as a local authority, and with the department, allowing continued delivery of services to the people of Limerick.”