- Capital Investment Supports for Large Tourism Projects will provide a pool of in investment
- develop new, or boost existing, tourism experiences scheme will run from 2016-2020.
Fáilte Ireland opened applications from new or existing visitor attractions for €65m of capital investment supports for Large Tourism Projects.
The €65m large projects fund will run from 2016-2020 and is drawn from an overall capital fund, of €125m over the next seven years, presumably leaving a further €60m available for other capital projects.
Under the scheme, capital grants in excess of €200k and up to a maximum of €5m are open to applications from the public, private and voluntary sectors including community groups and support for commercial projects.
The projects should have significant economic potential and the ability to boost overseas visitor growth, create Jobs and promote Fáilte Ireland’s existing destination brands, Wild Atlantic Way, Ireland’s Ancient East and Dublin a Breath of Fresh Air.
Minister Patrick O’Donovan said: “this capital investment will allow us to support high impact projects around the country and will underpin our overall strategy for sustained tourism growth which benefits all the regions. The Government is committed to job creation, rural development and tourism growth and this type of funding allows us to deliver on all three. Rather than being prescriptive in terms of the types of projects eligible for funding, the scheme This grant scheme takes an innovation-friendly and outcome-led approach to financial support. It identifies the desired development outcomes and invites applications from potential projects which will help to deliver those outcomes.”
Fáilte Ireland CEO, Shaun Quinn said: “This support is central to the future development of the tourism sector. If we are to compete internationally as a compelling destination, we need to think big. Therefore, we wish to fund a number of big projects around the country which have the scale, the strength and the appeal to attract many more overseas visitors to our shores. We are also anxious to fund attractions and projects across all our destination brands and, ideally, we will have a good level of applications from all parts of the country.”
The Capital Investment Supports for Large Tourism Projects initiative will be a rolling programme (which means there is no deadline for applications) and the scheme, which goes live today, will run until 2020.
See press release here.
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