£27.25 million has issued to 552 businesses under the Department of Finance’s Large NAV Business Grant Scheme.
The scheme being delivered by Land & Property Services provides financial support to businesses with a Net Annual Value of over £51,000 which also qualified for the 12 months rates holiday.
Following visits to Exact Group, a precision engineering firm and Louis Boyd in Newry which will benefit from the grants, Finance Minister Conor Murphy said: “This scheme closed for applications just over a month ago and so far Land & Property Services has paid out over £27 million to businesses across all council areas.
“A wide range of businesses will benefit including; retail stores, engineering companies, caravan parks and garden centres. It’s great to have the opportunity to visit businesses which have received the £50,000 grant and to hear the positive difference this funding will make.”
Minister Murphy concluded: “These larger businesses are a vital part of our economy, employing many people locally. I was determined to ensure financial assistance was provided to these businesses which have been unable to access support up until now.”