THE EXTENSION of Business Expansion Scheme funding to the music industry "is heartening recognition of the contribution being made by that industry to the Irish economy", the Minister for Arts, Culture and the Gealtacht, Mr Higgins, said last night.
The BES will now apply to investment in the production, marketing and production of new artists studios recordings and associated videos.
The extension of the BES was also welcomed by the Music Industry Group which described it as "a step in the right direction for the Irish music industry".
The music industry, Mr Higgins said, employs some 10,000 people and is already a major contributor to other aspects of our national life such as tourism. "However it is an extremely high risk area and while attention in the past has tended to focus on our major success stories, the problems and difficulties the industry has in securing investment and structural support have to be recognised," he said.