The Emerald Aero Cluster group is in line for funding worth up to €250,000
AN industry initiative which aims to develop the Mid-West into a hub for global aerospace manufacturing excellence is in line for funding worth up to €250,000.
The Emerald Aero Cluster group is a cluster of 14 indigenous manufacturing firms, brought together with the purpose of increasing aerospace manufacturing export revenues for its members.
Limerick members include Takumi precision engineering and Croom Precision Metal. It’s hoped the initiative will result in the creation of an extra €420m in revenue exports, and 200 new jobs.
Now, the group has been given money under the Enterprise Ireland Regional Enterprise Development Fund. The grant is worth between €50,000 and €250,000.
The fund, which is an open national competitive call to support regional projects, is provided by the Department of Business, Enterprise and Innovation, through Enterprise Ireland and is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development.
Fine Gael general election candidate, Senator Maria Byrne said: “This is great news for the Emerald Aerocluster CLG project, and will help drive employment in Limerick and across the Southern Region.”
“As a Government we need to continually challenge ourselves on how to create jobs outside of the main cities. That’s exactly what this fund does. It will directly support innovative projects here in Limerick and in our region as a whole and in doing so, help to create rural jobs.”
Ms Byrne added, “By creating jobs in rural Ireland we can convince young people to live in rural areas.”
Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection Pat Breen added: “I’m delighted that Limerick has secured funding through the Enterprise Ireland Regional Enterprise Development Fund, which will further support job creation in the mid west region. The Emerald Aerocluster group is an important development for Ireland’s growing aerospace industry, providing an opportunity for smaller aerospace companies to collaborate, win larger contracts and increase jobs for the sector.”
Of the 21 projects across all regions, 11 projects in the Southern Region of the country, which includes counties Limerick and Clare, have been approved for funding of €14.2 million, subject to grant conditions, Minister Breen said.
Julie Sinnamon, who heads Enterprise Ireland, added: “Supporting regional development and working with businesses to achieve their global ambition is a key focus of Enterprise Ireland. This competitive fund was launched at the end of May and attracted very strong interest. The winners were selected through a stringent evaluation process.”