Dáil Éireann Debate, Tuesday - 2 November 2021
24. Deputy Michael Moynihan asked the Tánaiste and Minister for Enterprise, Trade and Employment the way that Budget 2022 will encourage regional enterprise investment; and if he will make a statement on the matter. [52577/21]
View answerBudget 2022 recognises that a strong, resilient SME sector is key to rebuilding the economy. As part of Budget 2022, my Department has increased its allocation to its enterprise agencies who are continuing to deal with the impacts of Covid and Brexit.
My Department is overseeing the development of nine new Regional Enterprise Plans to 2024. The Plans aim to identify growth opportunities, recognise vulnerabilities, and in response, strengthen the regional enterprise ecosystem to enable job creation in the regions.
Through Enterprise Ireland, my Department has made available to date over €126 million in regional enterprise funding to assist locally-led regional enterprise development projects. I can advise the Deputy that I have secured an additional €5 million in regional funding as part of the Budget package to continue to support regional enterprise projects in the regions into 2022.
The Local Enterprise Offices (LEOs) will receive an additional €2m under Budget 2022, which represents an almost 5% increase in funding. This investment will allow each of the 31 LEOs to enhance the role they play in supporting local and regional development through the Regional Enterprise Plans and the continued support for existing LEO programmes. The ongoing success of the Trading Online Vouchers Scheme will be built upon by developing further awareness and training programmes to encourage Micro-enterprises to think digital first and continuing to assist enterprises on their digital journey through mentoring supports and networking opportunities with likeminded indigenous companies.
IDA Ireland has been approved additional budget of €26.5m for 2022, €10m for the Regional Property Programme which constructs state of the art facilities throughout the country to attract investors to establish and create jobs, IDA Ireland has in place an agreed building programme which spans the lifetime of the IDA Strategy 2021-2024.
€7m is for the National Institute for Bioprocessing Research and Training (NIBRT) who provide research programmes and training for the life sciences sector. €4m is for the Advanced Manufacturing Centre, which will provide a state-of-the-art facility in Limerick for both indigenous and multinational companies to develop new digitisation, innovations and technologies across the manufacturing sector.
€5.5m is for FDI grant activity. These monies are in addition to the regular grant payment budget of approximately €100m that IDA Ireland expends each year to its clients who are undertaking investment and transformation programmes. In addition, IDA Ireland will continue to process the various grant programmes introduced to alleviate the effects of Covid-19 within its client base. These programmes include the Business Continuity Scheme and the continuation of the Covid Medicinal Products Scheme, which have been approved for Clients to fund testing and fast-track production of products, which in turn will help in the fight against COVID-19.
I remain committed to driving economic recovery and sustainable growth in regional locations in the coming years.
