The 6,734 square foot workspace development has been developed by Oona Valley Community Association (OVCA) at a total cost of £778,564 and financed by the European Union through the EU Programme for Peace and Reconciliation (PEACE II) managed for the Special EU Programmes Body by the Department of Enterprise, Trade and Investment (DETI), the International Fund for Ireland, Dungannon and South Tyrone Borough Council and Oona Valley Community Association.
David Graham OBE, Board Member of the International Fund for Ireland, said: “The International Fund for Ireland is keen to support projects, such as the Oona Valley Enterprise Centre, which have the potential to deliver sustainable positive impacts long after the Fund ceases to exist. I have no doubt that the new workspace, which is highly accessible to the M1, will attract new tenants to a shared space where new and existing businesses can flourish and grow.”
Speaking at the official opening Arlene Foster, Minister of Department of Enterprise Trade and Investment, said: “The creation of seven new workspace units here at Oona Valley Enterprise Park has the potential to create up to 21 jobs. It can also help encourage local entrepreneurship and stimulate economic growth in the local area.
“This development will provide workspace facilities for new and expanding businesses in the manufacturing and tradeable services sectors and will contribute to the economic regeneration of the area.”
The Oona Valley Project is one of over 40 Peace II funded projects across Northern Ireland, set up to create new jobs in deprived areas, by providing flexible workspace units for new and expanding businesses.
The Department of Enterprise, Trade and Investment (DETI) provided support to the project with EU Peace and Reconciliation (Peace II) assistance of £184,000. Funding was also secured from the International Fund for Ireland (IFI), Dungannon and South Tyrone District Council, and individuals within the local community.
Deputy Mayor Councillor Patsy Daly stated, “As a Council we are delighted to be a partner in the funding package which has delivered this initiative for Oona Valley Community Development Association Ltd. Given the current economic climate and financial pressures on Business owners this facility will provide workspace as and when required. Such infrastructure already in place in a rural location will allow for investment to follow and as the Council region is renowned for creating entrepreneurs I have no doubt this will be the case in Oona Valley “
Speaking at the ceremony on behalf of OVCA, Henry Daly, Project Manager, said, "The Directors of the OVCA are very proud to see the fruits of their endeavours, over many years, blossom today with the opening of this Centre. The Centre will provide this community with a state of the art facility that will showcase and promote small businesses.
This Centre would not have been possible without the financial support of DETI, IFI, Dungannon and South Tyrone Borough Council, UCIT and the local community investors who have contributed in access of £279,000 in personal loans. The Directors are extremely grateful for this investment and endorsement, which will have a beneficial impact on job creation."
For further information about our funding programmes, or for information on how to apply for funding, please contact the person(s) or organisation(s) identifed at the end of the relevant programme summary in the areas of activity section.
International Fund for Ireland
28-32 Alfred St.
+44 (0)28 9031 2884