4,000 farmers set to avail of 60% TAMS II grants
The Young Farmers Capital Investment Scheme was launched on May 14 with in the region of 4,000 applications from farmers set to be accepted.
According to the Department of Agriculture a budget of €120m has been made available to the Scheme over the full RDP period which will enable 4,000 applications at an average of €30,000 per grant.
The closing date for applications under the first tranche of the Scheme is August 28 2015.
Details of the new grants for young farmers, which cover 60% of farm investment, were announced last week.
The young farmer grants are the first of the new Targeted Modernisation Schemes (TAMS II) which are funded through the Rural Development Plan.
The Minister for Agriculture, Simon Coveney said the Scheme is very important – offering eligible young farmers a special rate of aid of 60% of investment costs, compared to the standard rate of 40% which will be generally available to other farmers.
The specific areas of investment will include:
- Animal housing;
- Slurry storage;
- Dairy equipment;
- Specialised slurry spreading equipment;
- Animal welfare and farm safety; and
- Specialised pig & poultry investments.
In addition, young farmers will be able to avail of grant-aid for construction of new dairy buildings.
The total allocation for the various on farm investment schemes planned under TAMS II, including the Young Farmer Investment scheme, is €395m over the course of the programme.
Minister Coveney announced that an indicative allocation of €120m was being made available to young farmers under the terms of the new Scheme over the full RDP period.
He said he would be making further announcements in the coming weeks on the launch of the remaining TAMS II Schemes, including the new Dairy Equipment Scheme which is also being prioritised for early opening.