Dáil Éireann Debate, Tuesday - 11 June 2013
357. Deputy Paudie Coffey asked the Minister for Jobs, Enterprise and Innovation the total amount of Industrial Development Agency funding that was granted to a company (details supplied) in County Waterford for each of the years that it was located in the specified business park; and if he will make a statement on the matter. [26663/13]
View answerThe company received one grant approval from IDA Ireland and was paid a total of €830,000. This was paid over four years as follows, 2006 - €510,000; 2007 - €40,000; 2008 - €230,000; and 2009 - €50,000. The company currently employs 55 people at its hedge fund services centre in Waterford City. It established operations in Ireland in 1965 and now has its European headquarters in Dublin, where it employs approximately 2,300 people at its offices in the IFSC. Unfortunately the company recently announced its plans to close its Waterford office in November 2013 with the loss of those 55 jobs. The company took the decision due to a combination of challenges in the marketplace for its Hedge Fund business. IDA Ireland has, however, been working with company management on the possibility of other business opportunities for the Waterford-based employees. These efforts are on-going.
