State’s scheme boosts builders

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State’s scheme boosts builders


The Government’s Home Renovation Initiative has provided a major lift to Kerry’s building sector according to the Construction Industry Federation. Stock Image
The Government’s Home Renovation Initiative has provided a major lift to Kerry’s building sector according to the Construction Industry Federation. Stock Image

Kerry homeowners have spent over €45.9 million in total through the Home Renovation Incentive (HRI) since its launch in 2013.

This has provided a major cash injection to the construction sector in the county which is still reeling from the effects of the economic crash and the subsequent recession.

The HRI was used to carry out 3,064 home improvement projects in Kerry over the last four years. These projects throughout Kerry have had an average spend of €14,980 per project, providing a huge boost to the local economy and employment in the construction sector according to the Construction Industry Federation (CIF).

Introduced in 2013, the Home Renovation Incentive (HRI) provided homeowners with an income tax credit at 13.5 per cent of qualifying expenditure on home improvement works carried out on a main home or rental property by qualifying contractors.

While the scheme concluded at the end of 2018, it was successful in encouraging significant private sector investment in the upgrading of private and rental property throughout Ireland.

Shane Dempsey, CIF Communications Director said the scheme had provided a major boost to the construction sector in Kerry.

“A scheme such as the Home Renovation Incentive (HRI) has been a significant contributor to construction activity with registered contractors in Kerry and elsewhere throughout the country,” he said.

“A total of 3,064 projects in Kerry was a very significant level of private investment over the five years of the scheme from homeowners in Kerry. CIF has worked with stakeholders including the SEAI to ensure contractors were in place to support the work required by homeowners,” said Mr Dempsey.

“At a time of modest growth in the construction industry, the scheme encouraged investment by homeowners in Kerry, which was good news for construction companies and contractors in the county,” he added

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Kerryman



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