Offaly to benefit as Shannon region tourism tax incentive scheme gets green light
A number of Offaly villages and towns are set to be benefit from EU approval for a new tax incentive scheme designed to help improve tourism infrastructure on the River Shannon.
Finance Minister and Taoiseach-elect Brian Cowen stated this month that the criteria for the eligibility of projects under the new scheme will be set out in guidelines set to be published shortly by the Minister for Arts, Sports and Tourism, Seamus Brennan.
The tourism infrastructure scheme will cover a corridor of 12km on either side of the River Shannon, from Lough Derg to Lough Ree, covering much of South and South West Offaly, and it is expected to encourage investment in hotels, marinas and sailing, as well as in health farms.
It is also designed to assist the refurbishment of existing tourism infrastructure in the area
Originally announced in the Finance Act of 2007, the scheme was subject to State aid approval from the European Commission. Finance Minister and Taoiseach-elect Brian Cowen stated that the scheme has just received the necessary approval from Europe.
“I will shortly make the commencement order for the scheme and this will clear the way for the appointment by the Minister for Arts, Sports and Tourism, in consultation with myself, of the certification Board provided for in the legislation to approve projects under the scheme,” Minister Cowen recently stated in response to a Dail question from Fine Gael TD Ulick Burke.
While full details of the scheme have yet to be made available, analysts have predicted that it will last for a period of three years.
Areas like Shannon Harbour, Shannonbridge and Banagher are expected to reap the benefit of the scheme, the final go-ahead for which has been long delayed.
