The scheme supports businesses the require industrial space as a temporary, or permanent, solution to:
- Commence a new business activity;
- implement growth plans;
- handle an increase in orders; and/or;carry out process innovations required to increase efficiency.
50% of the rental cost incurred (excluding any taxes) capped at €25,000 over 12-month period. The aid can be approved for a period of 3 years, capped at €75,000 over 3-year period.
This scheme has an overall budget of €2,500,000. The scheme falls under the ‘De Minimis’ rules and obligations.
Scheme is available from 1 February 2020 to 31 December 2022.
Applicants can be companies, partnerships, cooperatives or self-employed registered with Jobsplus.
The applicant must be engaged in:
b) Maintenance and Repairs of Motor Vehicles;
c) Repair of Machinery & Equipment;
d) Other industrial activities.
Other important limitations
- Applicants in the preceding 2 years must have not employed more than 100 Full time employees.
- Annual turnover in the preceding 2 years did not exceeded €10 million.
- If the applicant is a registered company, the balance sheet total did not exceeded €10 million in the preceding 2 years.
- Property must be rented from a third party from the private sector.
- The property rented should not be owned by a legal person or a group of persons related to the applicant.
- Public property is not eligible.
- The rent agreement must have commenced not earlier than 1 year prior to the date when the application was submitted.
- Showrooms, display areas and similar properties are not eligible.