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Payment of grant claims under the Single Investment Fund Legacy programme

The Minister for Business, Enterprise, Technologies and Science has agreed that the payments due to Companies as scheduled in doc 2 may be released for payment

Date of decision / Dyddiad y penderfyniad:

23 April 2012

Statement of information / Datganiad gwybodaeth:

The Minister is being asked to approve payments currently due to companies who have submitted claims under the Legacy SIF/RSA Programmes.

The Legacy SIF Programme Budget represents ongoing commitments arising from offers of financial assistance made to businesses in prior years under the SIF and Regional Selective Assistance schemes.  The purpose of these schemes was to encourage businesses to undertake investment and to create or safeguard jobs which would not occur, or would occur on a reduced scale, without an offer of financial assistance.  The offers are subject to time limits for submission of claims and/or completion, beyond which we are not obliged to make further payments.  Many of these projects involve large amounts of private sector investment and the creation or safeguarding of a significant number of jobs over several years.

Assistance is paid out in line with the achievement of agreed targets for the level of investment and job creation/safeguarding.