This article is from page 57 of the 2009-09-29 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 57 JPG
A NUMBER of Clare projects are in line for a major funding boost, thanks to an innovative tourism investment scheme which has been established to generate additional tourist num- bers to the mid-Shannon corridor.
In fact the local response has been so encouraging that the Government has decided to extend the closing date for applications to the Mid-Shannon Tourism Investment scheme, which is administered by Shannon Devel- opment and Failte Ireland.
The scheme was launched last year to provide tax incentives to stimulate investment in tourism attractions and facilities in the Mid-Shannon Corri- dor which includes Clare, Tipperary, Offaly, Galway, Roscommon and Westmeath. One of the primary ob- jectives is that all applications must generate additional tourist visits to this area which has a shortage of ac- tivities and attractions for visitors.
Last week the €10 million Old- court Tourist Resort in Terryglass and the Cloughjordan Village Eco- Hostel and Learning Centre became the the first projects to be approved for funding under the scheme.
Mid-Shannon Tourism Infrastruc- ture Board chairman Tom Hyland said both projects were an excellent fit for the overall objective to stimu- late the development of innovative and sustainable tourism products in the mid-Shannon area.
‘Failte Ireland and Shannon Devel- opment have heavily promoted the scheme since its launch in June 2008, and now have a pipeline of projects whose final applications are current- ly being prepared for submission to the Board’, he said.
Shannon Development chief execu- tive Dr Vincent Cunnane said they were encouraged by the level of in- terest from other potential promot- ace
“It is already bringing tangible and lasting benefits to the area, and the entrepreneurial business people who emerge as a result of the Scheme can be assured of Shannon Devel- Opment’s support in developing and
promoting their new businesses,” he Sr nLGe
Projects eligible under the new scheme include; education tourism facilities, visitor attractions, cultural facilities, wellness and self devel- opment facilities and amenities, fa- cilities for water-sports activities, outdoor activity centres, equestrian facilities, certain restaurants and cafés, boat rental and inland cruising facilities, training facilities for ad- venture centres and registered holi- day camps. They can be new projects
or refurbishment to existing ones.
Relief is available by way of capi- tal allowances over seven years for qualifying construction and refur- bishment expenditure. Capital al- lowance will be granted at a rate of 15 per cent per year for the first six years and 10 per cent for the seventh year. The qualifying period of the scheme ends on the May 31, 2013, but applications must be made by May 31, 2010.
Details can be viewed and down- loaded at www.failteireland.ie, www.
shannondevelopment.ie/tourism or Wwww.arts-sports-tourism.gov.ie