The management of the industrial property portfolio is a statutory function of IDA Ireland, as laid out in section 16 of the Industrial Development Act, 1986, and, accordingly, the provision and marketing of industrial development land is a day to day matter for IDA Ireland. However, I am assured by IDA Ireland that industrial property is being provided in order to assist industrial development in the Waterford area, to facilitate the establishment or expansion of grant aided industrial undertakings supported by IDA Ireland and Enterprise Ireland clients.
IDA Ireland's strategy of achieving a better regional distribution of overseas mobile investment, away from the larger urban centres such as Dublin, Cork, Limerick and Galway, is to present companies with credible alternatives, which go as far as possible towards meeting their demands. The main demands are easy access to international airports; larger population centres with a strong base of third level graduates; and availability of high quality business and technology parks, with attractive office and industrial buildings.
The agency's strategy for inward investment in County Waterford, which will impact positively on Lismore, is to focus on Waterford city and Dungarvan, in the growth sectors, such as information and communications technology for new greenfield investment and working with existing overseas companies to win expansions. Specifically, in the west Waterford area, IDA Ireland's main focus is the promotion of the privately owned 27,000 square feet advance factory, available in Dungarvan. Also, the agency has recently acquired a 35 acre site, located adjacent to the existing IDA Ireland industrial estate in the town, which will be developed as a business park.