Hogan welcomes €200 million investment

Speaking after the announcement of the Commission’s decision, Commissioner Hogan commended the Irish authorities for developing the scheme which he said “will provide grant-aid to SMEs and large companies in the Irish agri-food sector, which employs more than 173,000 people and accounts for 10 per cent of the value of total Irish goods exports.

“Both in terms of my previous role as Agriculture Commissioner and in my current role as Trade Commissioner, I am well aware of the economic importance of the sector, in terms of job creation and economic added-value.

“I am confident that the scheme approved today will encourage innovative investments in this important sector which would otherwise not have occurred. This scheme must also been seen through the prism of Brexit and the need for the sector to adapt to the new situation and to improve its resilience and become more diversified through the identification of new markets.”

The scheme reflects the wish of the Irish authorities to support long-term investments in the primary food processing sector in order to make it stronger and more resilient, by bringing value-added through greater product and market diversification. Market research shows that there is potential for growth in the sector, in particular on global markets.

The scheme will also contribute to the EU objectives of ensuring viable food production and promoting intelligent and sustainable growth. Its approval reflects the Commission’s conclusion that it is in line with EU Agricultural State aid rules.