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Increased Cost of Business (ICOB) Grant Scheme LAST CHANCE TO REGISTER - Increased Cost of Business (ICOB) has re-opened with a closing date of 29th May, 2024


 Increased Cost of Business (ICOB) Grant Scheme LAST CHANCE TO REGISTER - Increased Cost of Business (ICOB) has re-opened with a closing date of 29th May, 2024

Overview

As part of Budget 2024, the government signed off on a package of €257 million for the Increased Cost of Business (ICOB) grant as a vital measure for small and medium businesses. Local authorities, funded through the Department of Enterprise, Trade and Employment (DETE), will manage the rollout of the grant to qualifying businesses. 

Local authorities have written to rate payers with details of registration.  

If you do not have your ID and PIN number you should contact your rates section in your Local Authority as soon as possible

Eligibility

  • Eligible businesses will receive a once-off grant payment as a contribution towards the rising costs faced by businesses. It is not a Commercial Rates waiver and businesses should continue to pay their Commercial Rates bill as normal. 
  • The grant is based on the value of the Commercial Rates bill received by an eligible business in 2023. 
  • For qualifying businesses with a 2023 Commercial Rate bill of less than €10,000, the ICOB grant will be paid at a rate of 50% of the business’s Commercial Rate bill for 2023.
  • For qualifying businesses with a 2023 Commercial Rate bill of between €10,000 and €30,000, the ICOB grant will be €5,000.

Where can I find out further information?

Further information on eligibility and FAQ’s is available on our website at www.galwaycity.ie.   If you have queries regarding your Commercial Rates account, contact ICOBGrant@galwaycity.ie or 091536401 / 091536856. Our staff will be happy to work with you if you have any outstanding balances on your Commercial Rates account.