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Regional Enterprise Development Fund

Dáil Éireann Debate, Tuesday - 14 July 2020

Tuesday, 14 July 2020

Questions (36)

Catherine Connolly

Question:

36. Deputy Catherine Connolly asked the Tánaiste and Minister for Business, Enterprise and Innovation if Enterprise Ireland and his Department have conducted a review of the regional enterprise development fund to identify gaps in funding provision in support of regional enterprise development; if so, the findings of the review; and if he will make a statement on the matter. [15762/20]

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Written answers

My Department’s Regional Enterprise Development Fund (REDF) was introduced to support the development and implementation of collaborative and innovative projects that can sustain and add to employment at county, regional and national level. The REDF, which is administered by Enterprise Ireland, has been an effective instrument of policy particularly as a complement to my Department's Regional Enterprise Plans where it has served as an enabler for projects emerging from that regional collaborative process. There have been three calls under the Fund to date and just over €100 million in funding has been approved across 68 projects, with projects approved in every region.

Following the conclusion of the first two Calls under the REDF, in March 2019, my officials and officials from Enterprise Ireland reviewed the format and process of the Scheme and this informed some technical changes to the subsequent Third Call in June 2019; for example a reduction of the number of streams from four to three, as well as associated adjustments to the funding ranges.

Enterprise Ireland has not carried out an ex-post review of the Scheme as yet, owing to the fact that projects funded are currently in the various stages of implementation. However, a National Oversight Group, comprising of officials from my Department and Enterprise Ireland has been established to review overall progress on each project against timelines and projected drawdown of funds. The National Oversight Group meets on a quarterly basis and the next meeting is scheduled for 23 July 2020.

Enterprise Ireland has advised me that it plans a full review of the Regional Enterprise Development Fund and the Border Enterprise Development Fund to commence later this year to determine the impact of the initiatives and the learnings for any future schemes.

Enterprise Ireland continues to monitor the effective implementation of projects approved under the three REDF calls as part of its ongoing Regional Development Strategy.

Question No. 37 answered with Question No. 34.
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