Significant Savings of €1.1million Made through Novel Approach take to Fund the Centre.
Mr Phil Hogan, Minister for the Environment, Community and Local Government officially opened Dungarvan's Enterprise Centre on Friday. Speaking at the opening Minister Hogan commended the partnership between the local community, the local development agencies and private business that led to the provision of the Enterprise Centre the Main Street of the Town. The Enterprise Centre will provide office space, conference facilities and business mentoring services to business start-ups in West Waterford.
According to the Mayor of Dungarvan, Teresa Wright, 'a Community - Public - Private Partnership approach was taken to the development of the centre. The local community entered into a lease agreement with Glanbia, owners of the building, to develop it as an enterprise centre. The community then received grant aid from Waterford LEADER Partnership to make the building fit for use for start-up businesses in the town. This approach saved significant funding, and brings regeneration to Dungarvan Town Centre' Mayor Wright added.
Fearghal Reidy, Economic Development Officer at Waterford County Council explained how the savings were achieved. The original plan was to construct a €1.3million enterprise centre on the outskirts of Dungarvan. However, the community group was unable to raise the borrowings required to complete the project. They approached Glanbia, who own a vacant building on Main Street, Dungarvan, who agreed to enter into a lease agreement with the community to develop the enterprise centre. The costs reduced from €1.3million to €200,000 a saving of €1.1million, while still providing the same enterprise space and facilities.
'The beauty of this is three fold' stated Denis McCarthy, Waterford County Manager. 'It provides entrepreneurs with space required to start their businesses, it brings regeneration to the Main Street of Dungarvan, adding to the vibrancy of the Town and it is delivered in a cost effective way' Mr McCarthy highlighted that the enterprise centre is a key element of a five year economic plan that Waterford County Council is implementing. 'The plan is yielding real results, the Dungarvan centre is one of a network of Community Enterprise Centres in the County, including Dunhill, Cappoquin, Lismore, Tallow and the Innovation Centre at WIT'. Mr McCarthy thanked the voluntary committee who developed the centre. 'This centre is a fine example of the work of communities throughout the County'.
The Dungarvan Enterprise Centre is a one-stop-shop for business start-ups in County Waterford. The County Enterprise Board has already taken up offices at the Centre, and offers a range of financial supports and mentoring for eligible businesses. The Centre also received a grant from Enterprise Ireland to employ a Manager, Margaret Durand. Ms Durand has a marketing background, and is an experienced in business mentoring. 'The centre offers businesses start-ups with a great location in the heart of Dungarvan' stated Margaret. Offices are well specified, with CAT 5 telecommunications infrastructure. Offices, ranging in size, are available to let at very reasonable rates. 'We have devised a letting agreement that is not too onerous on businesses, who face enough bureaucracy when starting up. Businesses can also use the conference facilities and the full range of mentoring support that are available at the Centre' stated Ms Durand.
For further information on Dungarvan Enterprise Centre contact Margaret Durand at Tel 058 - 23598
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