THE massive reduction in the commercial rate could see up to 100 new retail jobs, Cllr Maria Byrne says.
The Fine Gael member, one of only two ratepayers on Limerick City Council, believes the slashing of the property-based charge for businesses will free retailers in the city to create jobs.
Cllr Byrne believes the cut - from 71c to under 60c per rate of valuation - represents the largest chop in any local authority area in Ireland in history.
What it does mean is, if councillors pass the cut, businesses in the city will pay the same as those in the county.
“I have spoken to people in the business community. It will certainly create more jobs, and they reckon around 100 extra jobs can be created within the city centre, because it alleviates monetary problems for people,” Cllr Byrne claimed.
The rate cut has been made possible thanks to a grant of some €3.5m from the Department of the Environment.
“I am delighted that Ministers Hogan, Noonan and O’Sullivan have listened to the cries of people of Limerick and instead of harmonising the rates after we merge the authorities, they have seen fit to do it now. We will be on an equal platform with our counterparts in the county, and can move forward on an equal footing,” she added.