asked the Minister for Industry and Commerce if the employment potential in respect of an industrial undertaking (name and address supplied) has been realised; what grants were given to this company; what loans or investments were made from State or semi-State sources; what employment was envisaged; and what is the present employment.
Ceisteanna—Questions. Oral Answers. - Industrial Firm.
34.
The industrial undertaking mentioned by the Deputy has not yet gone into production and there is no present employment. I understand that the company met with unexpected difficulties both as regards capital and management which they are now trying to overcome. It is not the practice to give particulars of estimated employment in relation to individual concerns.
Published reports of An Foras Tionscal show grant payments to the company amounting to £113,000.
I have no function in the matter of industrial loans.
Were there any ties in relation to those grants so that if perchance the requisite production were not achieved, the grants could be recovered?
It is money down the drain.
The usual ties which I have already told the Dáil about for the giving of grants and disposal of the properties built and equipped on grant money. There are ties over a period.
Is this a safeguard? Will the Exchequer lose £113,000 or will it not?
Efforts are still being made to overcome the unusual difficulties with which this firm met and they still have hopes of overcoming them.
We wish it well.
The only way to avoid difficulties is not to have any industries at all.