Almost £21 million to issue to over local 850 manufacturers – Murphy
Finance Minister Conor Murphy has announced that almost £21 million in further Covid grants will begin issuing to over 850 manufacturing businesses later this week.
The one-off £25,000 grant is an automatic payment being made to manufacturing businesses operating from commercial premises with a Net Annual Value (NAV) between £15,001 and £51,000.
During a visit to FAST Technologies in Londonderry, one of the businesses which will receive the grant, Minister Murphy said: “Manufacturing businesses are an essential part of our economy employing over 85,000 people across the North. Like many other sectors they’ve been adversely impacted throughout the pandemic. This one-off £25,000 grant will provide almost £21 million to over 850 manufacturing businesses, most of which were unable to access grant support in the initial lockdown. I hope this grant scheme, combined with the second year of a 12 months rates holiday, will support our manufacturing industry and give them the capacity to recover and grow in the time ahead.”
Stephen Kelly of Manufacturing NI added: “This is an incredibly welcome investment by the Finance Minister. The last year has been the most difficult business environment anyone is likely to have experienced and our SME manufacturers more than most have suffered. These grants will save jobs and allow our manufacturers to invest to deliver the post-Covid economic recovery which the Executive desire and the community need.”
The following criteria apply to the Manufacturing (Industrial Derating) Support Grant
To receive this automatic payment the manufacturing business must be the rateable occupier of premises on 1 March 2021 with a NAV between £15,001 and £51,000 and properly receiving industrial derating at that date.
Only one grant will be paid for businesses with multiple premises.
Business in administration or with a vacant property at March 1 2021 will not receive the payment.
A message from the Editor:
Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.
In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.
Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.
With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.
You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk
With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.