Industrial Development Act 1986 Art. 21Authority's general grant-making powers. [1969, ss. 33, 34. New in pt.]

21.—(1) The Authority may make a grant, on such terms and conditions as it thinks proper, towards the cost of fixed assets of or for an industrial undertaking to which this section applies.

(2) The amount of a grant under subsection (1) shall not exceed 60 per cent. of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 45 per cent. of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area.

(3) This section applies to an industrial undertaking in respect of which the Authority is satisfied that it—

(a) will produce products for sale primarily on world markets, in particular those products which will result in the development or utilisation of local materials, agricultural products or other natural resources; or

(b) will produce products of an advanced technological nature for supply to internationally trading or skilled sub-supply firms within the State; or

(c) will produce products for sectors of the Irish market which are subject to international competition; or

(d) is a service industry as specified by the Minister by order under section 3.

(4) The industrial undertaking shall also satisfy the Authority that—

(a) financial assistance is necessary to ensure the establishment or development of the undertaking;

(b) the investment proposed is commercially viable;

(c) it has an adequate equity base;

(d) it has prepared a suitable company development plan; and

(e) it will provide new employment or maintain employment in the State that would not be maintained without assistance given under this Act and increase output and value added within the economy.

(5) …