The Minister for Enterprise, Trade and Employment, Micheál Martin, T.D., has announced that Ireland is to retain significant scope to grant investment aid under a new Regional Aid Map approved by the European Commission for the period 2007-2013.
County Cork will be designated for regional aid for small, medium and large firms for 2007-2008. In addition, the docklands area of Cork has been designated as an urban regeneration area and will also retain entitlement to aid for small and medium firms until the end of 2013 in order to facilitate financial supports for urban regeneration in the area over that period.
Minister Martin said he welcomed the designation of Cork Docklands as an urban regeneration area. “The Cork Docklands area represents one of the last major redevelopment opportunities in the city and the area has the potential to become a model for sustainable urban living. The current situation of Cork Docklands provides an opportunity to address the high levels of disadvantage in the area through the provision of employment opportunities, an integrated living environment with adequate social and community supports, and a good environmental quality of life. There is also the potential to build a new high quality urban quarter adjacent to and integrated with the city centre."