“€17m BMW Region Gateway & Hub Development Fund Launched by the BMW Regional Assembly”

The BMW Regional Assembly will directly manage the allocation of a €17m EU funded capital grant assistance Fund available to the 5 Gateways and 5 Hub Towns in the BMW Region. Speaking from the Assembly’s headquarters in Ballaghaderreen Co. Roscommon, Mr. Gerry Finn Director of the BMW Regional Assembly, stated “this Fund which is allocated from an advance payment of the EU Structural Funds to Ireland, represents a continuation of the Assembly’s commitment to the development of the BMW Region’s Gateways and Hubs as designated under the National Spatial Strategy framework and prioritised in the BMW Regional Operational Programme 2007-2013. This Fund will seek to make a significant contribution to the economic, environmental, social and cultural development of these cities and towns in the BMW Region”.

Outlining the details of the Fund, Mr. Finn added, “the BMW Region Gateway and Hub Fund will provide maximum grant assistance of €2m per Gateway and €1.4m for each Hub Town. Local Authorities applying for support are required to provide 40% non-borrowed match funding from their own resources. Given the current constrained economic conditions, priority will be given in the appraisal process to projects which have a strong economic development rationale with good job creation prospects, and which best encompass and demonstrate appropriate urban design, innovation, appropriate scale and cost effectiveness”.

Potential types of capital projects include: urban infrastructure, physical regeneration and renewal, including redevelopment of brown-field sites, sustainable energy and transport initiatives, arts and culture facilities, and the development of cultural and built heritage sites.

The Director of the Assembly concluded, “this Fund reinforces our support for the full implementation of the National Spatial Strategy which seeks to establish greater levels of balanced regional development throughout Ireland. Earlier this year in conjunction with the Southern and Eastern Regional Assembly we published the first major socio-economic study into the progress of the Gateways. The Gateway Development Index (GDI) 2008 provides an important baseline tool of analysis for evidence-based regional policy making, it is envisaged that 2010 and 2013 GDIs will capture the benefits of the investments provided under the BMW Region Gateway and Hub Fund”.

ENDS
Note to editors:
BMW Region Gateways: Dundalk, Galway, The Midland Gateway (Athlone-Mullingar-Tullamore) Letterkenny and Sligo
BMW Region Hubs: Ballina, Castlebar, Cavan, Monaghan and Tuam.

Click here for details of the Gateways & Hubs Development Fund

Click here for the Gateway Development Index