Louise O'Reilly
Question:155. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment the financial return generated from InterTradeIreland investments in 2022; and the projected return for 2023. [22198/23]
View answerThursday, 11 May 2023
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InterTradeIreland (ITI) is one of six North-South implementation bodies established under the Good Friday Agreement. It operates under the oversight of the NSMC and of its sponsor Departments, the Department of Enterprise, Trade & Employment and the Northern Ireland Department for the Economy. ITI works to promote trade and business on an all-island and cross-border basis.
One of InterTradeIreland’s key performance indicators is the Business Development Value it generates, a metric which demonstrates the positive financial impact InterTradeIreland programmes have on the growth and economic development of participating businesses. This is an aggregation of impacts from the body’s portfolio of programmes and incorporates additional revenue generated, efficiency savings and investments made as a direct result of a company’s participation on an ITI programme. Business Value is captured through ITI’s monitoring activities and independent evaluations and is based on business values reported directly by individual companies that have previously completed our programmes.
In 2022 ITI achieved a Business Development Value of €138.7 million against a target of €113.9 million. ITI’s Business Development Value target for 2023 is €121 million, with the body having achieved a value of €46.2 million for the year to date. ITI have indicated that they are on track to meet their target for 2023.