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Finance Minister Conor Murphy has announced that almost £21 million in further Covid grants is being issued to over 850 manufacturing businesses across all council areas.
The one-off NI Manufacturers Grant of up to £25,000 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.
In Newry, Mourne and Down District Council, 81 eligible businesses will receive a total of almost £2m.
Finance Minister Conor Murphy has announced that almost £21 million in further Covid grants is being issued to over 850 manufacturing businesses across all council areas.
Finance Minister Conor Murphy explains, “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.
NI Manufacturers Grant will provide up to £2m to 81 Newry businesses.
“This one-off grant of up to £25,000 grant will provide up to £2m to 81 businesses in the Newry, Mourne and Down district, most of which were unable to access grant support in the initial lockdown.
“I hope this grant scheme combined with the second year of a 12 months rates holiday will support our manufacturing industry and give them the capacity to recover and grow in the time ahead.”
NI Manufacturers Grant welcomed by Manufacturing NI.
Welcoming the grants, Stephen Kelly of Manufacturing NI says, “This is an incredibly welcome investment by the Finance Minister.
“The last year has been the most difficult business environment anyone is likely to have experienced and our SME manufacturers more than most have suffered.
“These grants will save jobs and allow our manufacturers to invest to deliver the post-Covid economic recovery which the Executive desire and the community need.”
The following criteria apply to the NI Manufacturers Grant:
- To receive this automatic payment the manufacturing business must be the rateable occupier of premises on 1 March 2021 with a NAV between £15,001 and £51,000 and properly receiving industrial derating at that date.
- Only one grant will be paid for businesses with multiple premises.
- Business in administration or with a vacant property at 1 March 2021 will not receive the payment.
An industrial business that received the £10,000 Small Business Support Grant, where eligible under this scheme will receive a maximum of £15,000.
Awards will be processed in line with The Financial Assistance (Coronavirus) (Industrial Business) Regulations (Northern Ireland) 2021 No. 86.
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