Wednesday, 8 May 2019

Questions (585)

Maurice Quinlivan

Question:

585. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the 2018 and 2019 budget allocations for IDA Ireland, Enterprise Ireland and local enterprise offices in tabular form; and if she will make a statement on the matter. [19346/19]

View answer

Written answers (Question to Business)

The Budget allocations for IDA Ireland, Enterprise Ireland and the Local Enterprise Offices for 2018 and 2019 are set out in the table below. The table shows the allocations as published in the 2018 and 2019 Revised Estimates Volumes and does not account for any Supplementary Estimates or Carryovers of unspent capital monies as provided for under Section 91 of the Finance Act, 2004.

Budget Allocations

2018

(€,000)

2019

(€,000)

IDA

Current

Capital

Total

48,780

132,000

180,780

51,670

142,000

193,670

Enterprise Ireland*

Current

Capital

Total

87,998

185,000

272,998

92,068

187,750

279,818

Local Enterprise Development

Current

Capital

Total

10,431

22,500

32,931

10,431

27,500

37,931

* Incorporating allocations across the following DBEI Programme Areas:

A – Jobs Enterprise Development

B - Innovation

The Deputy will see from the above table that the exchequer allocation for all three agencies was increased in 2019.

The more than €12 million in additional funding allocated to the IDA in 2019 will allow it to increase its global footprint thereby enabling it to strengthen its presence in key markets. It will also support further development of the Regional Property Programme. This will help ensure that property solutions are in place for overseas companies considering investing or expanding, thereby encouraging more FDI to the regions. The IDA plans to develop new buildings in regional locations including Carlow, Dundalk, Monaghan, Sligo, Athlone, Waterford, Limerick and Galway. These important initiatives are part of the IDA’s Brexit response and specific Investment Priority Projects set out in our National Development Plan, ‘Ireland 2040’ under National Strategic Outcome 5 ‘Strong Economy Supported by Enterprise, Innovation and Skills’ which includes a commitment to the provision of further investment by the IDA in regional property solutions.

Almost €7 million in additional funding has been provided to Enterprise Ireland in 2019. This will support the creation of new ‘Regional Innovation and Technology Clusters’ via the Institutes of Technology, building their facilities, expertise and supportive capabilities as drivers of global enterprises in and across the regions. This is one of the priority projects as set out in ‘Project 2040’. It will also allow EI to further progress its Global Footprint plans. This will involve the recruitment of additional staff and promotional/training activities through targeted programmes such as; Irish Advantage, Online Customs training etc. The expansion of EI’s global footprint is a key initiative of the Agency’s Brexit response.

The Local Enterprise Offices have received a substantial increase of €5 million in their Capital funding for 2019. This is in recognition of their pivotal role in developing and supporting competitive and innovative local businesses across the regions and particularly in supporting them to deal with the implications of Brexit. The additional funding will allow the LEOs to build upon their specific strengths in furthering enterprise development and job creation in their local areas. Funding will be presented through competitive funding to maximise its potential in supporting high quality proposals for regional job creation.

The increases provided to the respective Enterprise Agencies demonstrated the Government’s continued commitment to ensure that they have the necessary resources to carry out their pivotal roles in getting business Brexit ready, driving indigenous enterprise and regional growth and preparing for the Future of Jobs in tomorrow’s economy.