Funding allocated for expansion of Spool Factory

The Spool Factory in Boyle is among a number of Co Working Hubs and Enterprise centres around the country being allocated funding under Enterprise Ireland’s Enterprise Centres Fund.

Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, this morning announced €8.24m in grants for 95 Enterprise Centres around the country under Enterprise Ireland’s Enterprise Centres Fund.

€615,000 is being allocated to 7 Enterprise Centres in Sligo, Leitrim and North Roscommon.

Minister Frank Feighan said, Enterprise Centres are embedded in communities across our region. They provide space and training for entrepreneurs, allowing them to work remotely, access training and advice, and network with other business leaders. This €615,000 funding in this constituency will be crucial as the Centres continue to offer services to local businesses during what is an exceptionally difficult time. It will help the Centres implement a recovery plan for businesses within their remit over the next six to twelve months.

Tánaiste Leo Varadkar said: “I am really pleased to make this funding available through by Department. It will help enterprise centres all over the country to modernise their facilities protecting the health and safety of people who work there and helping to secure much needed jobs.”

Julie Sinnamon, CEO, Enterprise Ireland added: “Over the past 20 years, Enterprise Centres have provided important infrastructure for entrepreneurs and are an essential part of the start-up ecosystem across Ireland. The Centres, many of which are regionally based, provide space, connectivity, mentoring and support to start-up founders and teams, helping them to scale internationally. The funding announced today through Enterprise Ireland will ensure that the Enterprise Centres, many of whom have been negatively impacted by Covid-19, can sustain their businesses, pivot and further develop their services to support the next wave of Irish start-up companies.”

The news has also been welcomed by Deputy Denis Naughten and Senator Eugene Murphy.

Among those receiving funds locally are:

  • Innovation Centre at Sligo It €146,220
  • The Hive, Carrick on Shannon €139,637
  • Drumshanbo Community Council CLG €96,240
  • Drumshanbo Enterprise Centre CLG €81,384
  • Tubbercurry Development CLG €67,600
  • The Spool Factory, Boyle €67,500
  • Manor Hub, Manorhamilton €16,304

In welcoming the news, owner and operator of the Spool Factory Brian Nerney said the funds, along with match funding, will go towards building a number of in demand new ground floor serviced office suites in the Spool Factory to accommodate start up businesses and those who want to enjoy all the benefits of being located in the Spool Factory while availing of private office space. It will also assist in a new marketing campaign for the facility due to launch in the New Year.

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