Cork County Council to Invest €1.25m in Economic Development

Cork County Council today approved a €1.25M investment which will include a range of business development supports that will lead to increased job creation in the County.

A total of €500,000 is being invested in financial contributions and bank guarantees to the SME sector. Funding will only be considered for projects that are recommended to Cork County Council by the County Enterprise Boards and Local Development Agencies and will generally be in the €10,000 – €20,000 range

A further €300,000 is to be spent in helping to provide enterprise centres / hot desk facilities in County Towns. This will apply to business communities that have accommodation and a project in mind where Cork County Council will consider a contribution of up to €35,000 for ICT enablement and hot desk provision however; rental of the premises will not be covered. The Council will also provide the necessary help and expertise to bring these projects to fruition

In addition, an Outreach Programme for some Cork County Towns will be provided in a joint economic development initiative between the Rubicon Centre of CIT, Cork County Council and Cork County Enterprise Boards

In it’s partnership with Cork City Council and Cork Chamber of Commerce, a further investment of €150,000 will be made to co-fund business opportunities and initiatives.

Further support will be given to the CORKMEET business networking initiative funded by Cork County Council and the County and City Enterprise Boards which is to expand its role with an event planned for Dublin in November this year.  The additional investment in CORKMEET will help to build on their role in responding to the challenges facing companies.

The Mayor of the County, Cllr. Tim Lombard stated that this financial investment will create a great opportunity for both individuals and communities within our County who currently have great ideas in which they want to build on.  In turn these innovative ideas will help to boost our economic development both in terms of job creation and in financial benefit to our County.
This is the first allocation from the Cork County Council Economic Development Fund with further investment to follow.

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