Announcing details of the preparation stage of the scheme on Tuesday, DAERA Minister Michelle McIlveen said that both tiers of the Farm Business Investment Scheme (FBIS) will provide grant funding of 40% of project costs, with the first tranche for both tiers due to open next month.
Tier one is primarily aimed at the purchase of equipment and machinery and is for investments costing between £5,000 and £30,000. DAERA has said that a reference price list of equipment for tier one will be available when the scheme opens for applications in October.
Tier two is focused on construction projects and will provide funding for projects costing from £30,000 to an unlimited upper value, with the maximum grant available set at £250,000.
Young farmers
Young farmers under the age of 40 and farmers with qualifications in agriculture will be favoured in the selection stage for grant funding. However, grant rates of 50% for young farmers, as lobbied for by the Young Farmers’ Clubs of Ulster, will not be available.
All applicants must have a category 1 farm business ID and will have to provide a ‘Making it Safer’ self-assessment certificate. The assessment is available on the DAERA website.
DAERA has said that the content of the self-assessment will not affect applications or lead to a farm inspection. “I would encourage all farmers to complete this assessment, not just those who will need it for an application to the FBIS capital scheme,” said Minister McIlveen.
DAERA is bidding for up to £40m to cover two tranches for each tier of the scheme. The second tranche is planned for autumn 2017, the department has said.
Read more
Details of capital grant scheme in NI to be announced
£15m budget for Tier 1 capital grant in Northern Ireland
Announcing details of the preparation stage of the scheme on Tuesday, DAERA Minister Michelle McIlveen said that both tiers of the Farm Business Investment Scheme (FBIS) will provide grant funding of 40% of project costs, with the first tranche for both tiers due to open next month.
Tier one is primarily aimed at the purchase of equipment and machinery and is for investments costing between £5,000 and £30,000. DAERA has said that a reference price list of equipment for tier one will be available when the scheme opens for applications in October.
Tier two is focused on construction projects and will provide funding for projects costing from £30,000 to an unlimited upper value, with the maximum grant available set at £250,000.
Young farmers
Young farmers under the age of 40 and farmers with qualifications in agriculture will be favoured in the selection stage for grant funding. However, grant rates of 50% for young farmers, as lobbied for by the Young Farmers’ Clubs of Ulster, will not be available.
All applicants must have a category 1 farm business ID and will have to provide a ‘Making it Safer’ self-assessment certificate. The assessment is available on the DAERA website.
DAERA has said that the content of the self-assessment will not affect applications or lead to a farm inspection. “I would encourage all farmers to complete this assessment, not just those who will need it for an application to the FBIS capital scheme,” said Minister McIlveen.
DAERA is bidding for up to £40m to cover two tranches for each tier of the scheme. The second tranche is planned for autumn 2017, the department has said.
Read more
Details of capital grant scheme in NI to be announced
£15m budget for Tier 1 capital grant in Northern Ireland
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