Industrial Development Act, 1986
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PART III Industrial Incentives | ||
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Authority's general grant-making powers. [1969, ss. 33, 34. New in pt.] |
21.—(1) The Authority may make a grant, on such terms and conditions as it thinks proper, towards the cost of fixed assets of or for an industrial undertaking to which this section applies. | |
(2) The amount of a grant under subsection (1) shall not exceed 60 per cent. of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 45 per cent. of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area. | ||
(3) This section applies to an industrial undertaking in respect of which the Authority is satisfied that it— | ||
(a) will produce products for sale primarily on world markets, in particular those products which will result in the development or utilisation of local materials, agricultural products or other natural resources; or | ||
(b) will produce products of an advanced technological nature for supply to internationally trading or skilled sub-supply firms within the State; or | ||
(c) will produce products for sectors of the Irish market which are subject to international competition; or | ||
(d) is a service industry as specified by the Minister by order under section 3 . | ||
(4) The industrial undertaking shall also satisfy the Authority that— | ||
(a) financial assistance is necessary to ensure the establishment or development of the undertaking; | ||
(b) the investment proposed is commercially viable; | ||
(c) it has an adequate equity base; | ||
(d) it has prepared a suitable company development plan; and | ||
(e) it will provide new employment or maintain employment in the State that would not be maintained without assistance given under this Act and increase output and value added within the economy. | ||
(5) (a) The Authority may, in the case of small industrial undertakings as defined from time to time by the Minister, make a grant on such terms and conditions as it thinks proper in respect of any additional person employed in such an undertaking. | ||
(b) A grant under this subsection shall be subject to such financial limits and such other terms and conditions as may from time to time be specified in a scheme governing the making of such grants sanctioned by the Minister with the concurrence of the Minister for Finance. | ||
(c) A grant under this subsection shall not be reckoned in the calculation of the maximum grants payable to the undertaking concerned for the purposes of subsection (2) and section 33 . |