Dáil Éireann Debate, Wednesday - 17 January 2024
415. Deputy Mick Barry asked the Minister for Enterprise, Trade and Employment the IDA and other State supports that a company (details supplied) has received since its establishment in the State; and if he will make a statement on the matter. [56765/23]
View answerAs the Deputy is aware, IDA Ireland provides a range of financial supports to FDI companies in the form of employment, capital, research and development, environmental and training grants. In this regard, IDA Ireland provided a total of €4,047,964 in grant support of VMWare’s Cork operation since 2005. This sum is broken down as follows:
|
Year Approved |
Grant Type |
Grants paid |
|
2005 |
Employment Grant |
€468,000 |
|
2006 |
Employment Grant |
€1,845,000 |
|
2008 |
Employment Grant |
€1,250,000 |
|
2016 |
Research & Development |
€127,317 |
|
2019 |
Training |
€11,000 |
|
2019 |
Research & Development |
€249,993 |
|
2019 |
Training |
€96,654 |
|
TOTAL |
|
€4,047,964 |
VMWare is a leading virtualisation and cloud computing software and services company, which first established in Ballincollig in 2005, following its acquisition by EMC. In May 2022, VMWare and Broadcom jointly announced that Broadcom would acquire VMWare. As a result of the acquisition, which formally closed on Wednesday 22nd November 2023, Broadcom’s current software division rebranded and operates as VMWare.
The company is planning a substantial rationalisation of VMWare’s headcount across its global operations in 100 countries, and, on Monday 11th December, VMWare notified me as Minister of potential redundancies in its Irish operations. My and Government's first concern is for the staff and families of those impacted by the redundancy announcement. Government support is on hand to assist the impacted employees in relation to income, employment and training supports. In this regard, IDA Ireland has a strong relationship with the Irish and corporate management team at VMWare and is working with the local leadership team to understand the skills profile of impacted employees and to match that with existing or target client-company skills requirements.
VMWare is, and remains, a highly valuable IDA client-company in the South-West region and has helped to drive the growth of the software and broader technology base in the region.
