Dáil Éireann Debate, Wednesday - 12 February 2014
91. Deputy Michael Healy-Rae asked the Minister for Jobs, Enterprise and Innovation the reason for his recent defence of IDA Ireland's record in County Kerry despite the fact that the authority arranged just five site visits to the county in the past two years (details supplied); and if he will make a statement on the matter. [7189/14]
View answerThere are many complex factors influencing investor location decision-making such as the increasing preference of investors globally for cities of scale with 1 million plus population, significant challenges from lower cost locations in the UK and Eastern Europe and attractive regional aid.
There are 12 IDA Ireland client companies in Kerry employing 1,638 people. IDA Ireland has strong relationships with all these companies and works closely with them to ensure their long term sustainability and to encourage their growth, development and continuing re-investment in their sites. The primary opportunity for regional locations is in respect of the existing client base and potential further investment opportunities from same. Approximately 70% of all FDI investments won by IDA Ireland is from the existing client base.
When marketing Kerry for new inward investment IDA Ireland particularly focuses on the ICT (including. software), International Financial Services and Globally Traded Business sectors.
I understand that the Deputy was involved with Minister Deenihan in the announcement last June by MYMIC Global that twenty two jobs would be created in Valentia over the next three years. In addition there will be a further 15 jobs in the construction phase. That jobs announcement was made in conjunction with IDA Ireland, Kerry County Enterprise Board and the Valentia Island Development Company.
I am determined to ensure that Ireland can continue to compete globally for foreign direct investment. In winning such investments, I am, however, mindful of the need to address the concerns that have been expressed to me by Deputies on all sides of the House about the relatively low level of site visits to certain regional locations. I have, accordingly, requested IDA Ireland and Enterprise Ireland to work with my Department so that we can explore what further initiatives we can take to ensure we have a better approach to enterprise development in regional locations. This exercise will complement the in-depth analysis of our FDI strategy which is currently being undertaken by Forfás and which will take account of factors such as key trends emerging in FDI best practice internationally, Ireland's strengths in attracting FDI and any changes to the EU's State Aid Rules, which will come into effect on 1 July 2014. The results of these two exercises will form the basis of IDA Ireland's strategy from 2015 onwards.
