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Industrial Development

Dáil Éireann Debate, Thursday - 9 December 2021

Thursday, 9 December 2021

Questions (130)

Pauline Tully

Question:

130. Deputy Pauline Tully asked the Tánaiste and Minister for Enterprise, Trade and Employment his views on the lack of IDA investment in counties Cavan and Monaghan; and if he will make a statement on the matter. [60816/21]

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Written answers

The Border Region consists of the counties Donegal, Sligo, Leitrim, Cavan, and Monaghan. IDA Ireland supports 66 client companies, through the agency’s offices in Sligo and Cavan, in this region who collectively directly employ 8,651 people.

The FDI performance in the region has been strong over the past five years with employment among IDA clients increasing by 18% as traditional strengths in sectors such as Engineering & Industrial Technologies and Medical Technologies were complemented by new investments from the Technology, International Financial Services and Life Sciences sectors.

The Border region includes the regional growth centres of Letterkenny and Sligo. The region has fostered strong collaboration, for example through Sligo Institute of Technology’s participation in NIBRT, the development of the Atlantic MedTech cluster, and Letterkenny Institute of Technology’s engagement with client companies on the formation of a North West chapter of Cyber Ireland. Cavan and Monaghan also benefit from the presence of the Dundalk Institute of Technology in County Louth. The recent designation of Atlantic Technological University (ATU) as a technological university by the Connacht-Ulster Alliance (CUA) of Galway Mayo Institute of Technology (GMIT), Letterkenny Institute of Technology (LYIT) and IT Sligo in October 2021 is also a welcome development. The existing FDI base of companies in Cavan and Monaghan enjoy strong collaborative links with several third level colleges.

Key to the Border region’s success in the past, and essential to its success in the future, is strategic collaboration with national and local stakeholders on the enhancement of the regional value proposition for FDI. In this regard the significant funding both Cavan and Monaghan have received under the Urban Regeneration Development Fund (URDF) is to be welcomed, it will add to the placemaking successes and the value proposition of both counties.

IDA Ireland will continue to work closely with existing clients throughout the Border region to retain and strengthen their presence through continued company transformation as well as pursuing new areas of opportunity for client companies. The Agency will also continue to collaborate with Enterprise Ireland and its indigenous base of companies to identify synergies, enhance clusters, participate in site visits and maximise benefits for the region.

IDA Ireland has recently completed the construction of an Advance Building Solution in Monaghan which it is currently actively marketing to potential FDI clients and as part of its new strategy “Driving Recovery and Sustainable Growth 2021 to 2024”. IDA plans to deliver Advance Building Solutions in Letterkenny, Cavan, and Sligo over the strategy period of 2021-2024.

IDA will target 25 investments for the Border region in the period 2021 to 2024 and will continue to actively promote Cavan and Monaghan as part of the wider Border value proposition. IDA Ireland will build on the strengths and competencies of the region with a particular focus on opportunities arising in the sectors of Life Sciences, Technology and Services. The objective will be to take advantage of emerging technologies and business models, including home and hub working.

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