Government Approves €750,000 Scheme for Tycor Business Centre Fire Victims
The Government approved a new €750,000 scheme for businesses affected by the Tycor Business Centre fire in Waterford. It offers up to €30,000 per business, including an initial €5,000, and aims to support continuity and prevent job losses for up to 40 impacted premises.
The Government has approved a new €750,000 scheme to support businesses affected by the recent fire at the Tycor Business Centre in Waterford city. Up to 40 premises, including businesses, community groups, and social enterprises, were destroyed, impacting hundreds of people.
The scheme offers once-off financial support of up to €30,000 per business, subject to local authority assessment and a recovery plan supported by the Local Enterprise Office. An initial ex-gratia payment of up to €5,000 will be made available. Additionally, a dedicated support loan for impacted organizations has been agreed upon.
The scheme, administered by Waterford City and County Council in cooperation with the Local Enterprise Office, aims to ensure business continuity and limit job losses. Minister for Enterprise, Trade and Employment Peter Burke stated the Government responded rapidly to the devastating fire, which affected a vital part of the local economy where up to 200 people worked. The cause of the fire remains under investigation by Causeway Group, the property owner.