The Government is currently focussed on best utilising the mechanisms already in place for strengthening economic cooperation between both sides of the border. The work of InterTrade Ireland (ITI) is especially important in this context. ITI, which is jointly funded and overseen by my Department and the Department for the Economy in Belfast, provides a range of enterprise development initiatives and programmes to support commerce both in and between North and South. Our two administrations also work together in other ways, including through ongoing cooperation between Enterprise Ireland and its Northern Ireland counterpart agency Invest Northern Ireland on areas of mutual interest.
Over recent years, a range of projects under the enterprise development strand of the INTERREG IVA Programme (2009-2015) have had a particularly positive impact on developing small businesses in the region. My Department co-funded this strand, under which a total of 28 individual projects have been initiated. I now look forward to the roll out of the successor Programme for the period up to 2020, which will support research and innovation initiatives and hopefully help to foster further growth and economic development in the cross-border areas.
My Department has not carried out a cost benefit analysis to which the Deputy refers. Developing new economic structures such as this would represent a significant policy development and requires careful consideration. We should also bear in mind that any new structures would need the full agreement of the authorities both here and in Northern Ireland. The need to avoid duplication with the work of other existing bodies and mechanisms is also important.
I would also mention that the North East/ North West Action Plan for Jobs, launched on 30 November last, aims to deliver 28,000 extra jobs in the counties of Sligo, Leitrim, Donegal, Louth, Monaghan, and Cavan by 2020. Key targets in service of this overall goal are to achieve an increase of at least 25% in the number of start-ups in the region; a 25% improvement in the survival rate of new businesses; an increase in the number of IDA investments in the region by 30-40% up to 2019; and an increase of 300 to 500 in the numbers of Údarás na Gaeltachta supported jobs in the North West. Sectors targeted as part of the plan include traditionally strong sectors for the region like agri-food, manufacturing/engineering and tourism, as well as areas targeted for future growth like digital payments, cleantech and creative services.
Since the Plan was launched on 30 November last, focus has moved to putting in place a comprehensive implementation structure. A Regional Implementation Committee has been established, composed of key stakeholders in the region who will work in concert with Enterprise Champions - nominated senior private sector representatives - to oversee and monitor progress. This team will meet twice each year to review progress on the delivery of the Plan’s actions. The first Progress Report on the implementation of the North East/ North West Action Plan for Jobs will be completed in Q3 2016.
