The Chief Executive of Cavan County Council says increasing commercial rates by 10% was a "difficult but necessary decision".
Tommy Ryan added that the increase means "significant funding" will now be available to carry out developments throughout the county that will "support the business community in the long term".
The County Council needs to provide necessary match funding to apply for government grants and Mr Ryan said the Council needs to "keep our focus on long term investment in the county".
Speaking to Northern Sound, Mr Ryan said the increase in commercial rates was "necessary" and added that a rates discount scheme will be introduced next year to help the majority of smaller ratepayers: