Ballynacarrigy is one of 18 areas selected across Ireland for a feasibility study.
The creation of a new enterprise hub in Westmeath has moved a step closer.
Ballynacarrigy is one of 18 areas selected across Ireland for a feasibility study to assess the potential of locating a facility in the area.
It's being funded as part of the Regional Enterprise Transition Scheme and will cost between €20,000 and €50,000.
It's hoped that a robust economic development plan can be put in place based on the outcomes.
Commenting on the latest development, Minister of State for Trade Promotion, Digital and Company Regulation and Longford-Westmeath Fianna Fáil TD Robert Troy said:
“I want to congratulate the successful applicants from across the regions that have been approved funding under the Regional Enterprise Transition Scheme Feasibility Funding. This funding will support early-stage project development and aims to create a pipeline of future enterprise development projects across all regions originating in particular from the nine Regional Enterprise Plans.
“The feasibility funding, along with the €9.3 million in funding I recently announced under the Regional Enterprise Transition Scheme which provided grant support for 24 enterprise development projects in the regions, will create a pipeline of projects for future regional funding calls and support the Government’s ambition to strengthen the enterprise development capabilities of our regions."
Minister of State for Business, Employment and Retail and Meath-West Fine Gael TD Damien English said:
“Balanced regional development is a priority for me and Government. The feasibility funding announced today will provide assistance for early-stage project development and allow promoters to test their product concept and deliver virtual or site-based solutions to their target audience.
“There is a huge appetite across Ireland to facilitate regional enterprise and grow job opportunities and I am delighted to see plans progressing for additional workspaces, remote hubs, clustering, and innovative supports for businesses across Ireland. This funding will improve the capability and competitiveness of regional enterprises and encourage entrepreneurial activity among our vibrant SME community."