Kilkenny Businesses Face Closure Amid 4% Rate Hike Announcement

URGENT UPDATE: Kilkenny businesses are on high alert following a 4% increase in commercial rates announced by Kilkenny County Council, raising fears of potential closures. John Hurley, CEO of Kilkenny Chamber, voiced his deep concerns, stating that this decision could push struggling retailers “over the edge.”

Earlier today, the local authority unanimously approved a budget of €129.4 million, a significant rise of €8.9 million (7.4%) from last year. While the budget aims to avoid cuts to core services, the increased expenditure will be partially funded by the rate hike, which has left many business owners anxious about their future.

“This increase comes at a time when local businesses are already grappling with soaring operational costs, including energy, wages, and pension contributions,” remarked Hurley. “Many are barely surviving, and this commercial rates increase could be the final blow for some.”

In light of these developments, Hurley urged the Kilkenny community to rally behind local businesses, especially as the holiday season approaches. He emphasized the importance of shopping locally and suggested that employers consider the new Kilkenny Gift Card as a means to support businesses while rewarding employees this Christmas.

The budget’s primary focus is a substantial allocation for housing, which sees a budget increase of almost 20% to €36.9 million. This investment is crucial for addressing the housing needs of Kilkenny’s growing population, vital for sustaining the local economy.

Hurley noted, “We must recognize the interdependence of businesses and housing. Employees need homes, and our businesses need employees.” He also welcomed proposed increases in spending on infrastructure, including roads, amenities, and public spaces, highlighting a 5.4% increase in roads funding to €33 million.

The urgency of this situation cannot be overstated. With many businesses already facing financial strain, the community’s support during this difficult time is more crucial than ever. As the holiday shopping season approaches, Hurley’s call for local engagement resonates strongly.

Stay tuned for more updates on this developing situation as Kilkenny’s business landscape faces unprecedented challenges. For ongoing coverage, visit Kilkenny People.