1,400 ratepayers share €4.5m under business support scheme

Almost 1,400 Westmeath have shared grant funding of over €4.5m 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 Small & Medium Enterprises (SMEs) with the increased costs associated with running a business and was administered by the Local Authorities. The total allocation for Westmeath was €4,542,744, with 1,375 local SMEs availing of support.

Minister for Enterprise, Trade and Employment, Peter Burke said that he was delighted to get government support for the ICOB Scheme, which was "an important initiative to help small and medium enterprises who are the backbone of our economy".

“ I have spoken to dozens of businesses around the county here and am delighted that 1,375 of them availed of €4,542,744 worth of grants and we will continue to work with and support these businesses.

“I would also like to acknowledge the work of the Westmeath County Council in administering the scheme and thank all the staff involved. They have contributed hugely to the success of ICOB.”

Westmeath Chief Executive Barry Kehoe said: "It was a great privilege to assist businesses in Westmeath with a financial contribution towards the rising costs they experienced over the last number of years, and I wish to thank Minister Peter Burke for providing the necessary funding. Furthermore, I am proud that Westmeath was the first county to process both ICOB 1 and 2 payments to all the qualifying ratepayers to facilitate their continued contribution towards our vibrant economy."

Nationally, a total of €257 million was made available under the scheme.