Galway Bay fm newsroom - Galway land-owners are to receive almost 2 million euro as part of the 2020 forestry premium payment.
The payments, which are tax-free, will issue this week to over 7,000 forest owners nationwide amounting to a total of over 33 million euro.
This latest payment run represents a 40% increase in terms of forest owners who applied for premiums compared to last year.
Landowners across Galway will receive €1.8m; with landowners in Mayo and Roscommon set to benefit from a similar figure.
Nationally, the largest payment will go to landowners in Cork, who will receive €4.4m.
While the lowest payment will be just €14 thousand to landowners in Dublin.
Minister of State at the Department of Agriculture, Food and the Marine Andrew Doyle says the tax-free payment illustrates that forestry remains a very viable long-term investment option for farmers - providing a regular income stream for up to 15 years after planting, and a stable market for timber.
