Tax Incentives announced to remove SEVESO barrier to development of Cork Docklands

Finance Minister Brian Lenihan announced plans within the Autumn 2008 Budget to introduce a new tax incentive scheme to facilitate the relocation of Seveso sites which will benefit the redevelopment of Cork Docklands.

One site in Cork Docklands is currently designated as a 'Seveso' site under Directive 1996/82/E.C. (Control of Major Accident Hazards Involving Dangerous Substances):  Goulding Fertilizers.

The designation of a site as a ‘Seveso’ site generally means that restrictions apply to proposed land uses in the surrounding area. The nature of these restrictions is conveyed to the Planning Authority by the H.S.A. in the form of land use planning guidance, which is based on risk assessments undertaken. In general, the closer a proposed development is located to a ‘Seveso’ site, the more restrictive the permissible land use in terms of occupation density.

From a State Aid perspective, the tax incentive scheme will be subject to clearance by the European Commission.