asked the Minister for Industry, Commerce and Energy the annual cost of all grants given to industry by the Industrial Development Authority in 1978 and the average cost per job.
Written Answers. - IDA Grants.
444.
Total capital grants approved by the IDA in 1978 amounted to £154.5 million. The cost per job approved ranged from £2,169 in the case of domestic small industry, through £2,677 (overseas small industry), £4,435 (overseas new industry), to £4,858 (domestic new industry). Training grants amounting to £16.9 million were also approved.
Total grant payments, including equity, amounted to £55.382 million. It is not possible to relate this figure for grant expenditure to the number of jobs filled in IDA-assisted projects, as the payment of capital grants approved by the IDA is made on foot of certified expenditure on eligible fixed assets and not as new jobs are created. There is normally a time lag between the installation of new plant and machinery and the creation of new jobs on the factory floor; on the other hand, employment on occasion may precede the payment of grant.