Dáil Éireann Debate, Wednesday - 29 September 2004
204 Mr. Ring asked the Tánaiste and Minister for Enterprise, Trade and Employment the amount IDA Ireland is paying for a factory (details supplied) it has leased in Ballinrobe following the revised lease agreement; the length of time the lease is for; if there is hope of getting the factory filled; and if there is a way in which the factory can be used for community purposes rather than leaving it idle and being paid for by the taxpayer. [21994/04]
View answerIDA Ireland has statutory responsibility for the attraction of foreign direct investment to the State and its regions. The management of IDA Ireland's industrial property portfolio is a day-to-day operational matter for the agency and not one in which I have a direct function.
I understand from IDA Ireland that the lease on the factory commenced on 2 January 1983 and is due to cease on 1 January 2018, a period of 35 years. Under the terms of the lease, rent reviews are due to take place every five years and following the last rent review on 2 January 2003 the current rent is now €160,450.57 per annum.
IDA Ireland is continuing to market the building for suitable inward investment and to Enterprise Ireland supported companies. IDA Ireland continues to evaluate all proposals for the use of the building against the need to have buildings available for inward investment and Enterprise Ireland supported companies.
I am confident that the policies and strategies being pursued by IDA Ireland in relation to the management of its property portfolio are properly focused and will hopefully result in attracting additional overseas investment and jobs for the people of Ballinrobe.
