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Foreign Direct Investment

Dáil Éireann Debate, Wednesday - 22 May 2013

Wednesday, 22 May 2013

Questions (36)

Thomas Pringle

Question:

36. Deputy Thomas Pringle asked the Minister for Jobs, Enterprise and Innovation the efforts made to secure foreign direct investment in the north west region; the number of new jobs that have been announced in 2012; and if he will make a statement on the matter. [24348/13]

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Written answers

IDA’s North West Region comprises the counties of Donegal, Sligo and Leitrim. There are 38 IDA client companies in the Region employing 5,199 people in full and part time employment.

IDA Ireland has indicated that, in seeking to win FDI, the concept of scale is crucial. Leading global corporations require a significant population pool, access to qualified talent, world standard physical and digital infrastructure coupled with the availability of sophisticated professional and business support services. In order to achieve balanced regional economic development, the Agency prioritises the marketing of urban locations as the areas of critical mass. In the case of the North West region IDA prioritises the promotion of Letterkenny and Sligo and also promotes other locations in the region as part of its marketing efforts and in response to specific client requirements.

In line with the transformation agenda outlined in Horizon 2020, IDA works with corporate and local management in existing client companies helping them to engage in transformation programmes to improve competitiveness and efficiencies, enhance their use of technology, up-skill employees, engage in RD&I and develop their business processes so as to ensure the maintenance of the existing jobs provided by these companies in Ireland.

This strategy was particularly successful in 2012, with three notable FDI announcements being made in the region:

In February 2012 Abbot in Sligo announced an €85m investment which will result in the creation of 175 jobs.

In October 2012 KeyedIn Solutions announced its plans to establish a software development centre in Letterkenny with the creation of 20 highly skilledjobs over three years.

Also, in October, GSK reversed its decision to close the Stiefel plant in Sligo and announced an investment of €10m in the plant.

Notwithstanding this success, I am mindful that, in order to ensure that Ireland can continue to compete globally for FDI projects, it will be necessary to undertake an in depth analysis of our FDI strategy with a view to informing the formulation of an appropriate strategy for the period post 2014. This analysis, which will be undertaken later this year, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, any changes to the EU’s State Aid rules that may be introduced in the near future and our agreed approach to regional development.

In the interim, IDA Ireland has assured me that it will continue to win FDI projects for the region. While the global outlook for FDI continues to be challenging, the Agency has assured me that it will continue to work towards achieving its target of creating a further 13,000 gross jobs this year as set out in the Action Plan for Jobs 2013.

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