I propose to take Questions Nos. 73 and 75 together.
Three new enterprise areas were designated under section 26 of the Finance Act, 1997. The same section makes provision for the designation by order of areas immediately adjacent to seven regional airports, including Knock Airport, as enterprise areas.
The designation order will be made by the Minister for Finance after consultation with the Minister for Public Enterprise and following receipt of a proposal from or on behalf of a company intending to carry on qualifying trading operations.
Qualifying trading operations are (a) manufacturing companies which qualify under the Finance Acts for 10 per cent Corporation Tax and (b) internationally traded service activities i.e. data processing, software development, technical and consulting, commercial laboratory, healthcare, research and development, media recording, training, publishing, financial and administrative headquarters. Companies must also have been approved for financial assistance by the State industrial development agencies — Forbairt or IDA Ireland. The tax reliefs for the enterprise areas are those set out in section 35 of the Finance Act, 1995 and include capital allowances of up to 100 per cent on expenditure incurred on the construction or refurbishment of premises used by qualifying companies as well as a double rent allowance for ten years for the lessees of such premises.