Jackie Cahill
Question:39. Deputy Jackie Cahill asked the Minister for Enterprise, Trade and Employment how Budget 2024 is supporting regional enterprise development; and if he will make a statement on the matter. [51399/23]
View answerThursday, 23 November 2023
Questions (39)
Written answers
Delivering balanced regional enterprise growth and sustainable local job creation is a core objective of this Government and is a key component of the White Paper on Enterprise.
Recognising the significant challenges businesses are facing, and to protect levels of employment right across the country, Government has put in place significant measures to help support regional enterprise development.
The enterprise agencies also play a vital role in supporting that goal.
I have ensured that the Budget 2024 allocation to Enterprise Ireland will enable the continuation of current schemes directly supporting enterprise development and sustainable job creation throughout the country with a focus on regional development.
The Local Enterprise Offices (LEOs) promote entrepreneurship within their locality and help in the creation of new sustainable jobs in innovative businesses that contribute to economic development in their regions. To support the vital work of the LEOs, an additional €9 million has been allocated in Budget 2024 to enable them to continue to assist business start-ups in local towns and communities across the country. This reflects the ambition this Government has for the LEOs and for supporting small businesses throughout the country.
I also secured an increase in capital spending for IDA Ireland in respect of grants to industry and the agency’s property programme. IDA’s client grant budget is a priority for the agency for the attraction of new investors to Ireland in an increasingly competitive environment, and particularly to regional locations. The grant programme will maintain existing levels of investment, with a focus on innovation, sustainability, and digitalisation in line with the Government’s White Paper on Enterprise; this will include R&D, Training, Capital and Employment grants.
In tandem, IDA’s regional property programme ensures the supply of land, buildings and infrastructure in regional locations as required by current and prospective clients of both IDA and Enterprise Ireland. A robust property and infrastructure ecosystem can be the key differentiator in winning FDI projects and is critical to delivering on IDA’s and Enterprise Ireland’s balanced regional development agenda with the proposed expenditure being commensurate with this ambitious strategy.
I also announced a new National Enterprise Hub which will include a dedicated website and phone line with a Hub Advisor to help businesses access State supports. Developed by Enterprise Ireland on behalf the Government, any business can call it for direct help in navigating the comprehensive suite of supports that are being offered to business throughout Ireland.
The Deputy will also be aware that on Budget day I announced that my Department has secured €145 million in funding for the Smart Regions Enterprise Innovation Scheme, co-funded under the European Regional Development Fund. The overall objective of this scheme is to drive job creation and enterprise development in each region as well as supporting projects aligned to the nine Regional Enterprise Plans. The first call of €35 million is now open and there will be further calls in the coming years. Full information is available on Enterprise Ireland’s website.