Bellacorick Enterprise Fund
Fiontar Chomhraic Teo - Bellacorick Enterprise Fund
Establishment of Fund
The fund has been established as a response to the closure of ESB Power Station at Bellacorick. The main purpose of the fund is to encourage enterprise development in areas affected by the closures. (See map of area). Responsibility for overall co-ordination of the fund will be undertaken by Mayo County Council. An independent evaluation committee of seven people shall be responsible for assessing applications and recommending support.
Fund Application Forms and Guidance
Criteria for Selection of Projects
It is proposed that the Evaluation Committee be invited to assess proposals on the criteria listed below prior to final adoption:
- Viability/sustainability
- Benefits to local economy and local communities
- Enhancement of social profile of the targeted area
- Long-term strategic development of the area as outlined in the County Development Plan and the Mayo County Development Strategy
- Promotion of social, cultural or economic entrepreneurship
- Employment potential and job creation
- Ability to form part of clustered development
- Minimisation of dead-weight/displacement
- Building of capacity to apply for funding/develop projects
- Rating of proposals by other listed agencies
- Availability of funds from other sources
Preference will be given to larger projects and to new technology/knowledge economy initiatives likely to have a substantial impact on socio-economic prosperity.
The following categories/sectors are excluded from consideration:
- Primary agriculture
- Retail sector
- B & B’s & Restaurants
Location of Investment
Only projects located within the Functional Area are eligible for consideration. 5% of the investment fund earmarked for education and training may be used outside of this geographic boundary if benefits to the Functional Area can be clearly identified.
Eligible Applicants/Target Groups
Funding/support applications may be submitted by:
- Community based organisations
- Private companies, co-operatives, partnerships or individuals
- State-funded organisations active in the areas, including the ADM funded groups
Eligible organisations as defined above or equivalent, must have a written constitution and be in a position to provide audited accounts covering all areas of their activity and be Tax compliant.
The following areas in particular are to be targeted:
- Industrial/commercial infrastructure
- Knowledge economy
Type of Incentives
The range of supports to be provided from the fund may include:
- Direct grants
- Provision of work space
- Provision of sites
- Provision of seed-capital and interest supports
- Provision of matching funds to maximise inflows of monies from local, national and EU funding streams
- Provision of other types of support
- Monies will generally be paid after expenditure is incurred, and after proper invoices and other documentation required is supplied to the executive. In exceptional circumstances, a portion in advance of expenditure may be paid. Funding must be fully expended within 18 months of confirmation of approval. This period may be extended at the discretion of the Board.
Language & Culture
It is recognised that the Board’s functional area includes the Gaeltacht of Erris. The Board aims to promote the Irish Language, encourage cultural diversity, and co-operate with the various organisations with specific responsibilities in relation to the Irish Language and Culture.
Teanga agus Cultúr
Aithnítear go bhfuil Gaeltacht Iorrais laistigh de cheantar feidhme an Bhoird. Tá sé mar aidhm ag an mBord tacú le cur chun cinn na Gaeilge, éagsúlacht chultúrtha a spreagadh, agus comhoibriú leis na heagraíochtaí éagsúla a bhfuil cúraimí sonracha ortha i leith na Gaeilge agus an Chultúir.
For further information and application forms please contact:
Fiontar Chomhraic Teo
Mayo County Council
Community & Enterprise
Áras an Chontae
Castlebar
Co. Mayo.
Tel: 094 – 904 7545.
Email: dce@mayococo.ie
