Longford companies net €4m in Enterprise Ireland funding

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Longford companies net €4m in Enterprise Ireland funding

A breakdown of the monies which were handed out to Longford companies last year by Enterprise Ireland

Longford companies shared just under €4m in payments from Enterprise Ireland last year, newly released figures show.

Panelto Foods in Longford town was by far the biggest recipient, scooping more than €3.2m of the €3.99m handed out.

The other four main beneficiaries included Huddl Mobility (€250,000), Kepak (€180,350), Lir Analytical (€175,000) and Tool & Plastic Industries (€60,953).

The figures, contained in the November and December edition of 'Business Plus' magazine, detail a county by county breakdown of the €95m in taxpayer funding distributed last year.

In its comment on the monies dished out to Longford companies, the magazine remarked: “There was also grant concentration in Longford with the €3.2m payment to Panelto Foods absorbing 80 per cent of the €4m distributed in the county.

“Like many other large grant recipients, Panelto operates through an unlimited company, so there is no public visibilty on its profit and distributions to directors and shareholders.”