The Government will make a €78m contribution towards the relocation expenses of the European Medicines Agency (EMA) if it moves to Dublin.
The EMA will have to move out of London post Brexit.
That includes €15m towards the cost of fit-out/rent of the selected premises in the first year, 2019, when Britain exits the European Union.
From 2020 to 2028, an annual contribution of €7m will be made towards rent and maintenance.
The Government has published its formal bid document this morning.
The Government will provide office space in Dublin from 2018 onward for an advance team from the EMA to be based in Dublin to work on the Agency’s move.
"A comprehensive relocation support service will be contracted.
This service will be provided to assist EMA staff and their families with identifying appropriate accommodation, schools, jobs for spouses/partners and other practical issues such as banking assistance, moving personal belongings and sourcing language lessons. "This is estimated to be of a value up to €10m."
The bid document states that a dedicated Transition Taskforce will be established to liaise with the EMA in all aspects of planning, managing and implementing the relocation. The group will draw membership from Government Departments and State agencies.