Over £27 million issues to hundreds of businesses in grant support – Murphy

£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.”

Notes to editors: 

1. Land & Property Services is continuing to progress the remaining small number of applications - further payments will be made as soon as these are assessed for eligibility.
2. Further details including the eligibly criteria for the Large NAV Business Grant can be found here.
3. Media enquiries should be addressed to the Department of Finance Press Office on Tel: 028 9081 6724 or email dof.pressoffice@finance-ni.gov.uk. Follow us on Twitter @dptfinance
4. Follow us on Twitter @dptfinance
5. The Executive Information Service operates an out of hours service For Media Enquiries Only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

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