Information on support measures for businesses impacted by floods
Many shop and business owners from Downpatrick to Newry have been waiting on details of what financial assistance is on offer from the Northern Ireland Executive Office following the terrible floods they experienced that destroyed many businesses.
The Northern Ireland Civil Service (NICS) has released information on the support measures that will be available to businesses impacted by the recent floods.
The measures will be funded through the reallocation of existing NICS Departmental funds that was announced by the Secretary of State, Chris Heaton Harris.
The measures include rates relief for flooded business premises and one-off grant payments of £7,500 for affected business.
It is estimated that up to 200 businesses will be eligible for the support, to assist with the immediate response, clean up costs and making properties more resilient to future floods.
The grants will be administered by local councils – South Down is : Newry Mourne and Down District Council.
The first payments will be issued next week.
The rates relief measure will include 100% relief for non-domestic rates on flooded properties for the period between 1 November and 31 March 2024.
In addition, any business that relocates to temporary premises while their flooded property is being repaired will be eligible for 100% rates relief on the new premises for three months.
Proposals for further schemes to support the longer term recovery of the affected towns are being considered by government departments and local government. More information on those schemes will be released in the coming weeks.