The public investment will ensure the delivery of 12 new capital projects in primary food plants across the country. This is the second funding announcement under the €100m Capital Investment Scheme for the Processing and Marketing of Agriculture products. When complete, the scheme, administered by Enterprise Ireland, will have backed 34 projects with total public and private investment of more than €420m; of which the 12 capital projects in this second funding phase will account for €160m. The scheme will assist companies to strengthen their operational capability and pursue product and market diversification strategies and will support the long-term future of our vital agri-food sector. Welcoming the funding announcement Minister Simon Coveney said: “Our agri-food sector employs 165,000 people in every county in Ireland and is a key driver of local economic prosperity. The Government is determined to support the long-term, sustainable future of the sector as it responds to consumer demand and seeks to diversify both its products and its markets.” Minister McConalogue added: “It is crucial that we move to help futureproof all elements of the
sector to ensure we can continue to meet new market dynamics and emerging trends. There are challenges facing our food producers, including input costs, changing consumer demand and our changed trading relationship with the UK. The sector has proved remarkably resilient in tackling these challenges. “This funding support will ensure that food companies can invest in ambitious strategies for future value growth in established and emerging markets and with product innovations that match changing consumer demand.. It is critical that these investments are used to help drive greater returns for farm families and primary producers.” Leo Clancy, CEO of Enterprise Ireland said: “When completed the Capital Investment Scheme for the Processing and Marketing of Agricultural Products introduced in 2020 will see more than €420m in public and private investment in the long-term future of our agri-food sector. This investment will pay dividends in the years to come and ensure that our great agri-food brands continue to compete and win in international markets.”