€8,828,230 has been invested in Donegal seafood processing firms Joe McHugh TD has stated this lunchtime.
Deputy McHugh says the investment will help to realise the sector’s potential while creating much needed jobs.
The investment is part of a broader national investment of €15.5 million, which is supported by grants of €3.2 million under the EU co-funded Seafood Processing Business Investment Scheme. The Scheme is implemented as part of the Irish Seafood Development Programme 2007-2013.
“The scale of the investment being made by 21 seafood processing companies across Ireland is significant as it will see 142 new jobs being created nationally within the industry with increased sales of €44 million expected by 2015. It comes on the back of investments of a total of nearly €10 million in 2010 and 2011 and is a clear recognition of the role and contribution the seafood processing industry has to play in our economic recovery.
“In Donegal, a total investment of more than €8.8 million is being made by local firms including: Sean Ward Fish Exports Ltd., Killybegs; Earagail Eisc Teo, Meenaneary; Charlie Vial Ltd, Dunkineely; Premier Fish Ltd., Kinncaslagh; Atlanfish Ltd and Proseail An Clochan Liath Teo, Dunglow. This investment is underpinned by €3,276,365 of support grants that will allow firms to develop and expand their business to meet the demands of this ever growing sector.
“The Irish seafood industry has grown from strength to strength in recent years and this investment will ensure that that trend continues into the future. The Action Plan for Jobs identified certain sectors within the Irish economy with the potential for real growth with the agri-food sector, including the seafood industry, among them.
“Similarly, the Food Harvest 2020 strategy sets out clear targets which aim to grow the seafood revenue sector by €300 million while increasing jobs by 3,000.
“Confidence in the seafood industry in Donegal is high. This investment will help to create jobs in Donegal by allowing these six of companies to diversify and expand and ultimately increase profitability.”