Business Supports

Tuesday, 18 April 2023

Questions (482)

Paul Murphy

Question:

482. Deputy Paul Murphy asked the Minister for Enterprise, Trade and Employment whether Citibank has received financial support from the Industrial Development Agency or other semi-State bodies over the past 20 years; and to outline, in tabular form, any support given on an annual basis. [16372/23]

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Written answers

Minister for Enterprise, Trade and Employment

As the Deputy is aware, IDA Ireland is authorised by my Department to provide a range of financial supports to FDI companies in the form of employment, capital, research and development, environmental and training grants.

The total amount of financial support provided to Citibank Europe plc over the past 20 years - that is for the years 2002 to 2022 inclusive (although no grants have been paid since 2016) - amounted to €9,902,863. While some of this financial support relates to Employment Grants (€830,000), the majority of this support was provided to enable Citi to research, develop and deploy leading-edge financial technology from its Dublin operation. In that regard, Citi’s R&D investments in Ireland in this period have resulted in substantial growth in employment from 1,296 staff in 2002 to approximately 3,000 during the period in question.

The specific information requested is outlined in tabular form below and outlines the amount paid in each year and the nature of the grant assistance received:

YEAR	Nature of Grant	Amount paid (€)

2002		Nil
2003		Nil
2004		Nil
2005	Research & Development (R&D) Employment Grant	1,744,746 830,000
2006		Nil
2007		Nil
2008	R&D	5,947,362
2009	R&D Feasibility	95,197
2010	R&D	49,434
2011	R&D	106,546
2012		Nil
2013	R&D	579,797
2014	R&D Feasibility	239,549
2015	R&D Feasibility	114,990
2016	R&D Feasibility	195,242
2017		Nil
2018		Nil
2019		Nil
2020		Nil
2021		Nil
2022		Nil
TOTAL		9,902,863

No other Agency under the aegis of my Department has provided financial support to the company during the timeframe.