Minister Michael Creed announces €5m in Grants, supporting €13m investment in 26 Seafood Processing & Aquaculture  companies

Minister for Agriculture Food and the Marine, Michael Creed T.D. today announced the award of €4,863,643 in grants to 26 seafood enterprises and 3 research institutions in 11 different counties under the European Maritime and Fisheries Fund Operational Programme for the seafood sector.  The grant awards will support total investment of    €13 million in capital investment, applied research and marketing in the aquaculture and seafood processing sectors.  The grants are co-funded by Government of Ireland and the European Union and subject to terms and conditions.

Minister Creed said, “I am delighted to announce the first tranche of EMFF grant awards in 2018 to seafood enterprises and research institutions that will lead to €13 million investment in our seafood sector.  It is very encouraging to see 15 capital investments in aquaculture underway, together with 3 significant research projects.  These are precisely the types of investments we need to see coming forward and they can positively contribute towards achievement of our growth plans for the aquaculture sector in the coming years.  I am also very pleased with the continuing commitment of the seafood processing sector to investing in value-adding. Increased investment in value added products in our seafood processing industries improves the competitiveness of those companies and increases the returns to our fishing fleet.  There are some very interesting and positive investments now underway, not least in the pelagic sector.  These are the culmination of much good work by ambitious seafood enterprises, closely supported by BIM, to identify and take advantage of growth opportunities.”

These grant awards contribute to the Action Plan for Rural Development. 

Additional Infromation

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.

Two support schemes are available to the aquaculture sector to help achieve the aims of the National Strategic Plan for Sustainable Aquaculture Development.  The Plan is seeking to sustainably grow production by 45,000 tonnes.  The Sustainable Aquaculture Scheme supports capital investment by licensed aquaculture enterprises to sustainably grow production and reduce environmental impact of aquaculture.  The Knowledge Gateway Scheme promotes and supports innovation, technological development and disease management in the aquaculture sector.

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 €21.75 million of EMFF funds in 2018 to disperse to the seafood sector over 13 EMFF support schemes.

Grant approvals - Sustainable Aquaculture Scheme

Grant approvals – Knowledge Gateway Scheme

Grant approvals - Seafood Processing Capital Investment Scheme

Grant approvals - Seafood Scaling & New Market Development Scheme