Barry Cowen (Offaly, Fianna Fail)
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162. To ask the Minister for Agriculture, Food and the Marine the status of the grant aid for capital investment for food and drinks companies as outlined in budget 2018; the amount of the €5 million allocation that has been utilised; the number of companies that have availed of the scheme; and if he will make a statement on the matter. [24209/18]

Michael Creed (Cork North West, Fine Gael)
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As part of a number of responses to Brexit, which I have initiated to address the challenges facing Irish Agri-food companies in remaining competitive and innovative, I secured an additional €5m  for capital investment in the 2018 Budget. This €5m fund is  being administered on behalf of my Department by Enterprise Ireland  through its Capital Investment Initiative, which is open to all Small and Medium Sized enterprises  with  the  aim  of helping  them to improve  their productivity and competitiveness through the acquisition of new capital equipment and technology and through innovation.

A total of five companies have now availed of the scheme to date in 2018 with total approved investment from this fund of  €1.362 million.  A further two companies are at application stage.