The Minister for Agriculture Food and the Marine, Michael Creed T.D., today announced €3.5 million in new investment by 6 seafood processing companies, with his Department’s European Maritime and Fisheries Fund Programme providing grants of €1,081,192. The grants are co-funded by the Government of Ireland and the European Union and are subject to terms and conditions.

Minister Creed said, “In these very challenging times for business generally and notably our seafood sector, I am delighted to support these six companies in building for the future. With our own economy and European and world markets reopening, we can have optimism again for future prosperity and growth. These six companies are preparing their businesses to grow exports and value because they have the confidence to know that our seafood sector is a high growth sector and that it will resume its long-term growth pattern now that markets are getting over the recent temporary, albeit severe difficulties. The national strategy is to add value wherever possible to our seafood products to ensure those products are well placed in the market. These grants will assist these Irish Seafood companies to deliver on that strategy”.

Minister Creed added “My Department’s present EMFF Programme is ready to assist seafood companies get back to business with capital, innovation, marketing and other supports. From next year, my Department’s new EMFF Programme for the 2021-27 period will commence and will play a major role in assisting the recovery and renewed growth of our seafood sector.”

Note to Editors:

Ireland’s EMFF Operational Programme 2014-2020 was adopted by the European Commission in December 2015 and launched in January 2016 by the Minister for Agriculture Food and the Marine.  The Programme provides €240m in funding to the seafood sector (fisheries, aquaculture and seafood processing) over the period 2014 to 2020. The Programme is co-funded by the Government of Ireland and the European Union.

Three support schemes are available to the seafood processing sector to foster and support innovation, value-adding, new market development and investment in new equipment and premises. The Seafood Processing Capital Investment Scheme provides up to 30% aid to seafood processing premises to encourage capital investment in value-adding production capacity.  The Seafood Scaling & New Market Development Scheme provides up to 50% aid to groups of seafood processing enterprises who work together to develop new export exports.  The Seafood Innovation & Business Planning Scheme provides aid of up to 50% to seafood processing enterprises to foster innovation in new product development. 

Bord Iascaigh Mhara has been provided with €21 million of EMFF funds in 2020 to support the seafood sector.

Grant approvals - Seafood Processing Capital Investment Scheme

Grant approvals – Seafood Scaling & New Market Development Scheme

ENDS