£12m boost for FBI scheme Tier 2

He said; “The money is going out from the end of January next. People can lodge an application up to the end of April next.

“Eligible schemes include those encompassing a spend of £30,000 or more. Up to 40% grant is available.”

Poots continued: “There will be a degree of competition within the grant scheme. People will need to have all their ducks in a row before applying.

“This includes planning, if necessary, or lawful use if planning isn’t necessary.

“The scheme will allow farmers to progress both in animal proteins and horticulture.”

He concluded: “So there is an opportunity to expand and do something a bit different. Young farmers, in particular, may want to consider diversification options, as they look to the future.”

Up to this point there was a significant number of Expressions of Interest in this tranche of Tier 2 FBIS – Capital, which were used to explore the type of investment planned, approximate total costs and potential time for completion.

DAERA held online information events in October for potential applicants to the scheme, which will provide a grant rate of 40% of eligible costs, with £250,000 the maximum grant available.

Only those farm businesses which submitted an Expression of Interest will be eligible to submit a full application for Tier 2 tranche 2 by the application closing date, 4pm on 1 April 2022.

Applicants will be required to submit a separate robust, viable and sustainable business plan as part of their full application, which shows that they have carefully planned their investment and what difference the proposed project will make in transforming their farm into a more sustainable, efficient and safer business.

All projects which involve construction or extension of buildings will require planning permission or a certificate of lawfulness to be in place before a full application to the scheme is submitted.

Successful applicants under Tier 2 tranche 2 will have a maximum of one year to complete their project.

While at the Winter Fair, the minister also addressed the issue of possible Covid support funding for the RUAS and Northern Ireland’s local agricultural shows.

He confirmed that direct payments to these organisations may not now be an option.

The minister said: “The problem that we have come against is this. The Audit Office has looked at the compensation schemes that went out for other sectors.

“It has been indicated to me that organisations with reserves shouldn’t be getting that type of funding.

“This is somewhat irritating for myself because I did want to provide support to the shows.

“So I have asked my officials to look instead at the option of a bounce back re-start for some of the shows, instead of providing compensation for the last couple of years.

“This will help deal with the issues that have arisen because of audit.

“And there is no reason why this measure should not include the RUAS.”