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Almost £21m Announced For Over 850 NI Manufacturers Almost £21 million in further Covid grants are being issued to over 850 manufacturing businesses later this week.
The one-off £25,000 grant is an automatic payment being made to manufacturing businesses operating from commercial premises with a Net Annual Value (NAV) between £15,001 and £51,000.
During a visit to FAST Technologies in Derry, one of the businesses which will receive the grant, Finance Minister Conor Murphy said: Manufacturing businesses are an essential part of our economy employing over 85,000 people across the North. Like many other sectors they ve been adversely impacted throughout the pandemic. This one-off £25,000 grant will provide almost £21 million to over 850 manufacturing businesses, most of which were unable to access grant support in the initial lockdown.
Covid-19: Grants for NI manufacturers to begin being issued
By Richard Morgan
Published
image captionA one-off payment of £25,000 will be made automatically
Grant payments for more than 850 manufacturers will begin this week, the Department of Finance has said.
The one off £25,000 will be paid automatically.
Manufacturers with a Net Annual Value between £15,001 - £51,000 are eligible, with the scheme costing a total of £21m.
FAST Technologies in Londonderry , one of the businesses receiving money, told BBC Radio Foyle it would be used for future investment. Huge benefit It s a huge benefit to our company. Last year was a difficult year and we saw a drop off in some of our projects, said the company s operations director Mark Higgins.
Applications Open To Over 1,100 Businesses For Grant Scheme Applications are now open to over 1,100 businesses across a wide range of sectors for a one-off £50,000 grant to help them with the impact of Covid-19.
The Large NAV Business Grant scheme being delivered by Land & Property Services will provide financial support to businesses occupying large commercial premises with a Net Annual Value (NAV) of over £51,000 and which also qualified for the 12 months rates holiday.
Encouraging eligible businesses to apply, Finance Minisster Conor Murphy said: Throughout the pandemic I have been determined to ensure that support reached as many businesses as possible. This new Grant Scheme will make available more than £50 million of financial assistance to hundreds of businesses across a wide range of sectors including childcare, retail, manufacturing, hospitality, tourism and leisure.
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