Mayo County Council welcomes formal approval of funding for Ballina Innovation Quarter
Posted in Connect on September 13, 2019.
Mayo County Council welcomes good news today from the Minister of Housing, Eoghan Murphy TD, that the Council has received formal approval of Urban Regeneration and Development Fund funding for the Ballina Innovation Quarter project.
A sum of €3.2 million government funding under the Urban Regeneration and Development Fund 2018 was approved for the transformation of Ballina’s military Barracks in November 2018.
Built in 1742, the redevelopment of Ballina’s military barracks promises to culminate in the creation of 210 jobs within three years, with the digital hub and innovation centre acting as ‘a catalyst for urban regeneration of the town and its surroundings’
Specifically, ‘the digital hub’ will provide 20 spaces for technology, digital media and internet companies to scale and grow alongside local enterprises. A new distillery will also be established by a private investor.
Peter Hynes, Chief Executive of Mayo County Council, welcomed today’s news; “It is good news that I have received today with a formal approval from the Department of Housing, for the Ballina innovation Quarter. The decision to support this project shows a serious commitment by government to revitalizing the fortunes of Ballina and its hinterland of north and east Mayo. When delivered, the Ballina Innovation Quarter will significantly increase the attractiveness of Ballina and North Mayo from an economic perspective and will unlock significant enterprise and entrepreneurial activity.
The Urban Regeneration and Development Fund is a flagship element of Project Ireland 2040. €58m is available in 2019 to provide initial support to the 88 projects announced last November on foot of the first call for proposals. €550 million is included in the NDP to provide further support for these and other similar projects up to 2022 and the Fund has an overall provision of €2 billion up to 2027.Tags: Ballina, Funding, Innovation Quarter