Dáil Éireann Debate, Tuesday - 18 February 2014
335. Deputy Brendan Griffin asked the Minister for Jobs, Enterprise and Innovation his views on the rate of job creation in County Kerry; if his attention has been drawn to the Industrial Development Agency record in County Kerry; the action he has taken on same; and if he will make a statement on the matter. [7771/14]
View answerThere are 12 IDA Ireland Client companies in Kerry employing 1,638 people (up from 1,605 in 2012). 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 (incl. software), International Financial Services and Globally Traded Business sector. On 4 June last, MYMIC Global announced 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. The jobs announcement was made in conjunction with IDA Ireland, Kerry County Enterprise Board and the Valentia Island Development Company.
There 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.
I am determined to ensure that Ireland can continue to compete globally for foreign direct investment and I am concerned about the lack of investment in 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. This analysis, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, the changes to the EU’s State Aid rules that will be introduced in 2014 and our approach to regional development will inform the formulation of an appropriate FDI strategy from 2015 onwards.
