Tuesday, 23 July 2019

Questions (1032)

Marc MacSharry

Question:

1032. Deputy Marc MacSharry asked the Minister for Business, Enterprise and Innovation the status of capital projects within the remit of her Department; the amount spent on each project to date; and the anticipated completion date. [34195/19]

View answer

Written answers (Question to Business)

The Capital allocation to my Department in 2019 is €620 million. This represents an increase of 11.7% on our 2018 allocation of €555 million. The breakdown of the capital allocations, by subhead, is set out in the following table.

Subhead

2019 REV Allocation

CAPITAL 

(€,000)

A4 - Intertrade Ireland

 

6,695

A5 - IDA Ireland*

 

162,800*

A6 - NSAI

 

500

A7 - Enterprise Ireland

 

65,750

A8 - Local Enterprise Development

 

27,500

A9 - Temporary Partial Credit Guarantee Scheme

500

A10 - INTERREG Enterprise Development

 

3,000

A14 – Future Growth loan Scheme

 

6,000

A15 – Humanitarian Relief Scheme

 

1

B4 – Enterprise Ireland

 

122,000

B4 – Science Foundation Ireland**

 

179,550**

B4 – Tyndall Institute

 

5,500

B5 – Programme for Research in Third Level Institutions

24,300

B6 – Subscriptions to International   Organisations

23,504

B9 – Disruptive Technologies Innovation Fund

20,000

Total***

647,600***

*Includes Capital Carryover from 2018 of €20.8m

**Includes Capital Carryover from 2018 of €6.8m

***Includes Capital Carryover from 2018 of €27.6 million

The Capital funding provided to my Department is mainly in the way of grants to support the multi-annual programmes of our enterprise development and innovation agencies.

The National Development Plan (NDP) identified 16 specific Business, Enterprise and Innovation Priority Investments under the “Strong Economy supported by Enterprise, Innovation and Skills” NSO, whose delivery is the prime responsibility for DBEI.

The additional €65million in capital money provided to my Department through the 2019 Estimates has allowed it to progress a number of the DBEI priority projects further in 2019. Specifically,

- the €20m funding provided to the Disruptive Technologies Fund ensured that the funding for projects approved under the first phase of the Fund could be drawn down in 2019

- the additional €10m provided to the IDA has enabled it to continue and expand its programme of providing property solutions, strategic sites and grants to deliver FDI across the regions of the country

- the €6m provided to the Future Growth Loan Scheme, which builds upon the €17m provided to the Scheme in 2018, will assist business to access the finance necessary to enable them to strategically transform/adapt to the impact of Brexit

- the additional €2.75million in capital funding provided to EI has enabled it to progress a number of regionally focussed initiatives with Institutes of Technology through a programme of Regional Innovation and Technology Clusters to support regions across the country to build enterprise capability

- the capital funding provided to EI will has also allowed it to roll out the new €175million Seed and Venture Programme which will focus on fostering a strong pipeline of high growth innovative businesses by increasing the availability of risk capital for start-up/early stage enterprises

- the Department’s increased capital funding will ensure that Ireland can continue to expand and deepen its membership of and collaborations with international research organisations such as the European Southern Observatory and the European Space Agency

- the additional capital funding also allowed the new programmes for Postgraduate Research at Masters and PhD levels to continue to be rolled out

- the additional funding being provided to SFI has enable it to refresh its Research Centres Programme thereby strengthening collaboration with enterprises across all regions of the country

- the additional funding being provided to the Tyndall Institute has enable it to continue to upgrade and expand and stay at the forefront of new technologies.

The increased Capital funding being provided to my Department in 2019 accords with the strategy outlined in the National Development Plan and the increased public capital investment set out in the Plan. This increased Capital funding is a demonstration of the Government’s commitment to deliver on the ambition of the NDP and, insofar as my Department is concerned, to ensure that we, our Agencies and Offices, have the necessary capital resources to meet the various challenges highlighted in the plan, not least in getting business Brexit ready, driving indigenous enterprise and regional growth and investing in research and innovation.