The Atlantic Corridor project is a transatlantic, cross-border initiative designed to encourage the economic and social advancement of the regions of the participating partners. These are: Atlantic Corridor, USA, Inc, the Niagara Economic and Tourism Corporation, the Atlantic Corridor, Northern Ireland (covering the area of the Lower Bann), and Atlantic Corridor, Ireland (covering the Midlands). The Atlantic Corridor was established by agreement between the four parties in November 2000. Since then Atlantic Corridor Ireland (ACI) has signed two new partnership agreements, with the city of Mesa, Arizona and the Atlanta, Georgia branch of the Irish Chamber of Commerce in the USA.
Atlantic Corridor Ireland has a 10 member Board of Directors. Directors are appointed by an AGM of the Offaly Regeneration Company Ltd, which is the implementing agency for Atlantic Corridor Ireland. It is a registered company, with no share capital. Atlantic Corridor is its sole activity. Government funding to ACI for each of the past five years has been as follows:
2003
|
2004
|
2005
|
2006
|
2007
|
€170,000
|
€176,000
|
€176,000
|
€250,000
|
€250,000
|
Audited accounts are provided to the Department of Foreign Affairs. Since its inception ACI has actively promoted the development of the region in terms of business and education through North –South cooperation and international linkages.