The Department of Enterprise, Tourism and Employment has received €3.68bn in funding for 2026 to 2030 in the revised National Development Plan, including €400m in new funding.
The department said its key priorities for the funding include continued inward investment with money set aside for the purchase of two land banks for development as 'next generation sites' to attract companies of significant scale.
The funding will also allow the department and its agencies to invest directly in Irish companies in order to strengthen the base of indigenous businesses in the face of potential geopolitical shocks.
There will be new investment funds set up to support Irish companies in instances where there is currently a funding gap and where business financing can be challenged.
A national start-up accelerator programme will be established to replace the NDRC, as will regional incubators and enterprise centres to position Ireland internationally as "a hub for entrepreneurs and start-ups".
"This €3.68bn investment is the linchpin in Ireland’s vision to be a global leader in enterprise, innovation and entrepreneurship," said Peter Burke, the minister for enterprise, employment and tourism.
"It will enable my department to continue its delivery of capital schemes to businesses, focusing on jobs and enterprise development, innovation and tourism programmes, including utilisation of the full extent of income earned by the department’s agencies.
"We find ourselves in uncertain times when it comes to the global marketplace, and we must ensure our investment is well-targeted and our family businesses and exporters are supported to focus on productivity, competitiveness and diversification."
Burke added that the funding would ensure that all Irish businesses have the support they need to grow and compete internationally while also attracting foreign direct investment.
"Funding will fuel innovation-specific actions to align with opportunities arising at EU level in pursuit of EU innovation and competitiveness, as well as key European funding."
Additional funding for the tourism sector has been allotted to increase product development and support for SMEs, to target new high-growth tourism segments, and increase marketing of Ireland as a tourist destination overseas.
Funding will also be directed to delivering new Regional Enterprise Plans, helping realise regional enterprise development.
“This funding represents a powerful investment in Ireland’s future, not just in capital, but in people, ideas, and communities," said Alan Dillon, the junior minister for small business, retail and employment.
"By expanding support for regional incubators, enterprise centres, and a national start-up accelerator, we’re equipping small businesses, retailers, and entrepreneurs across the country with the tools they need to thrive.
"It’s about unlocking potential by helping Irish companies scale, compete globally, and create high-quality jobs. It’s also about resilience, strengthening local economies and ensuring every region can share in the opportunities of innovation and growth. This is a real boost for enterprise, employment, and regional development.”
The new funding is in addition to the department's 2025 base of €3.28bn and will be fully supplemented by income generated by its agencies.
The department will provide further details of how the funding will be spent in September when it publishes its Competitiveness and Productivity Action Plan.
Photo: Peter Burke. (Pic: RollingNews.ie)
