There are 72 IDA Ireland supported companies in the border region (Donegal, Sligo, Leitrim, Cavan, and Monaghan) that collectively employ 10,173 people, and 15 IDA supported companies in Cavan and Monaghan, collectively employing 1,104 people.
The Foreign Direct Investment (FDI) performance in the region has been strong over the past five years with employment among IDA clients increasing by 21% within the Engineering & Industrial Technologies, Medical Technologies, Technology, International Financial Services and Life Sciences sectors.
Key to the border region’s success is strategic collaboration with national and local stakeholders on the enhancement of the regional value proposition for FDI. In this regard, IDA Ireland welcomes the significant funding that Cavan and Monaghan have received under the Urban Regeneration Development Fund (URDF) to date which will add to the placemaking successes and the value proposition of both counties.
IDA is targeting 25 investments for the border region in the period 2021 to 2024 as part of its current strategy “Driving Recovery and Sustainable Growth 2021 to 2024" and will continue to actively promote Cavan and Monaghan as part of the wider Border value proposition. The region has fostered strong collaboration, for example through Atlantic Technological University Sligo’s participation in NIBRT, the development of the BORMAC (Border Region Manufacturing Cluster) and Atlantic Technological University Donegal’s engagement with client companies on the formation of a North-West chapter of Cyber Ireland. The agency will build on the strengths and competencies of the region and take advantage of opportunities in emerging technologies and business models, including home and hub working.
Moreover, IDA Ireland has recently completed the construction of an Advance Building Solution in Monaghan as part of its Regional Property Programme which it is actively marketing to potential FDI clients. The agency also plans to deliver an Advanced Building Solution in Cavan which is currently at Phase 1 of a tendering process.
The most recent investment announcement was in March 2022, when California head-quartered Ultra Clean Holdings Inc. announced an Advanced Technology Cleaning Centre in Cavan, which will create approximately 100 jobs when fully operational.
IDA Ireland will continue to work closely with existing clients across the region to retain and strengthen their presence through transformation as well as pursuing new areas of opportunity and is working with Enterprise Ireland and its indigenous base of companies to identify synergies and collaborative opportunities, to build value chain linkages and to advance clustering.
Finally, the number of companies located in Cavan and Monaghan, the number of site visits that were conducted by the IDA in each county and the amount of funding that was expended by the IDA in each county in 2021, 2022, 2023, is set out in the table below.
|
-
|
|
2021
|
2022
|
2023
|
|
Companies
|
Cavan
|
8
|
9
|
9
|
|
|
Monaghan
|
8
|
8
|
6
|
|
Site Visits*
|
Cavan
|
3
|
1
|
2
|
|
|
Monaghan
|
2
|
4
|
3
|
|
Grant Payments
|
Cavan
|
€596,770
|
€0
|
€0
|
|
|
Monaghan
|
€0
|
€150,000
|
€0
|
*2023 site visits is to Q3 2023.
