Local Fianna Fáil Senator Erin McGreehan has encouraged eligible businesses in Louth to apply for Increased Cost of Business (ICOB) Grants.
As part of Budget 2024, signed off by Minister for Finance Michael McGrath, a package of €257 million for ICOB Grants was approved. Eligible businesses will receive a once-off grant payment with the amount of the grant to eligible businesses based on the value of the Commercial Rates bill the business received in 2023.
The opening date for the online system to manage the online application for the grant is the 14th March 2024 and the closing date for businesses to confirm eligibility and upload verification details is the 1st May 2024.
Senator McGreehan said: “I am delighted that the Increased Cost of Business Grants (ICOB) is coming into effect. The Grants are something I have pushed for for a long time, particularly in the leadup to last year’s Budget. Backing Louth businesses and ensuring they benefit from targeted supports has been and will remain a top priority of mine.
“I and Fianna Fáil in Government recognise the difficult environment small businesses, particularly hospitality businesses are operating in and the ICOB Grants, while not a silver bullet, will provide a welcome cash injection for businesses to cope with increased costs and the challenging wider economic context.
“Additionally, further recognising the difficult environment facing businesses, I am glad that the Tánaiste has confirmed that Fianna Fáil will fix the additional cost facing employers paying the increased minimum wage of the highest rate of PRSI in the weeks ahead.
“Small businesses are the fabric of our community in so many ways. Fianna Fáil in Government will continue to listen and respond to their needs and prioritise their support.”
Further detail on the ICOB Grant and how to apply can be viewed on Louth County Council’s website here.
