The Government has announced a new €40 million regional fund to boost job creation outside of Dublin.

The fund, which is to be rolled out on a phased basis, intends to improve collaboration between companies, drive procurement opportunities and create at least 220,000 extra jobs across the country over the next few years.

To win funding, projects must involve both private sector and public sector particpation. Applications will be managed by Enterprise Ireland and will take into account factors including potential jobs impact and the level of collaboration and innovation.

“Our aim is to ensure that every region can achieve its economic potential and that the benefits of the recovery are felt in every region, county and community in the country,” said Taoiseach Enda Kenny at the official announcement for the fund in Athlone.