Allocated €31.7 million from the exchequer in 2001, over €61 million has since been invested in regional companiesWestern Development Commission chief executive Tomás Ó Síocháin, Minister for Rural and Community Development, Heather Humphreys and Western Investment Fund manager Gillian Buckley.
As well as seed and venture capital, the fund provides loan financing to companies and community projects across Donegal, Sligo, Leitrim, Roscommon, Mayo, Galway and Clare. It co-invests with private sector investors on a commercial basis and all returns are reinvested back into the region, the WDC said in a statement on Monday.
Indecon said the fund, which has been self financing since 2010, has delivered an overall €3.3 billion economic boost to the Irish economy over its lifetime. The research suggests that at least 5,300 jobs have been supported by companies backed by the fund, which have also generated an estimated €1.6 billion in exports and €276 million in tax revenues for the State.
IrishTimes FUNDS; taxpayers money, forcibly taken for the notoriety and political gain of whatever govt is sitting.