The terrible events of 11 September were a major shock to the entire international economic order.
These events had a particular impact on Ireland because of our strong tourism, trading and investment links with the United States. With particular regard to aviation, the Government established an ad hoc group to consider ways of countering reductions in air services in the aftermath of 11 September and of stimulating new route development from our three major airports. My Department is one of a number of Departments represented on this group and its work is ongoing.
Shannon Development is the agency, under the aegis of my Department, responsible for industrial and tourism development in the Shannon region. Late Iast year the company, in conjunction with IBEC, conducted a survey of business opinion in the region. The survey focused on the impact of the reduction in air services to Shannon airport. Some 110 companies were included in the survey. Of these only two indicated that they may consider relocating all or part of their operations in the Shannon region to continental Europe.
The Government is strongly committed to regional development. The long-term prospects for the Shannon region are excellent. The region is set to benefit from a massive programme of investment in essential infrastructure over the next five years and is very well placed to gain from the recovery in the international economy.