Thursday, 19 September 2019

Questions (114)

Fergus O'Dowd


114. Deputy Fergus O'Dowd asked the Minister for Business, Enterprise and Innovation the number and exact values of State-funded grants provided to a company (details supplied) that supported the company from its opening to its recent announcement that it will close its operations in Drogheda, County Louth; the details of grants provided to the company; if the funds were given on the provision of reaching employment targets; and if other details in relation to the matter will be provided. [37997/19]

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Written answers (Question to Business)

I was disappointed to learn of the job losses at MTI Technologies in Drogheda earlier this summer, which I understand followed the loss by the company of a key contract.

IDA Ireland worked closely with MTI since it established in Ireland. The Agency had also approved grant assistance for the firm. However, I understand that the grant was not drawn down by MTI prior to its closure.

While the news of MTI’s closure was regrettable, it is important to note that enterprise developments in Louth, on the whole, have been positive. This includes strong job creation by a number of IDA-supported firms. Since 2010 the number of staff at IDA-supported firms in Louth has almost trebled to over 3,900. Last year alone saw announcements from Almac, Wuxi and PCI which will result in the creation of over 700 jobs. The investment by Wuxi was particularly significant, with construction beginning earlier this year on the company's €325 million state-of-the-art facility in Dundalk.