Dáil Éireann Debate, Tuesday - 19 June 2012
278 Deputy Regina Doherty asked the Minister for Jobs, Enterprise and Innovation if he will take a proactive approach to improving County Meath’s status for attracting foreign direct investment; and if he will make a statement on the matter. [29276/12]
Amharc ar fhreagraIDA Ireland is an autonomous agency whose statutory obligation is the attraction of foreign direct investment (FDI) to Ireland and its regions. One of the targets in IDA Ireland's strategy document ‘Horizon 2020’ is the creation of 63,000 new jobs in Ireland in IDA supported companies and a further 42,000 jobs in the wider economy over the period 2010-2014, with 50% of these investments to be based in locations outside of Dublin and Cork. 2011 was a very successful year for IDA Ireland with the creation of 13,000 new FDI jobs. In accordance with the Government’s Action Plan for Jobs, I have asked IDA Ireland to target another 144 new FDI investment projects in 2012, which will create 12,500 new jobs with an associated 8,750 in the wider economy, giving a total impact of 21,250 this year.
There are 16 IDA Ireland client companies in Co Meath employing approximately 1,300 people. IDA Ireland has indicated to me that as Ireland competes for high quality investments, the concept of scale is crucial. Leading global corporations require a significant population pool, access to qualified talent, world standard physical and digital infrastructure, coupled with the availability of sophisticated professional and business support services. Ireland has only one such Metro Region, the Greater Dublin area. In order to achieve regional economic development, IDA Ireland prioritises the marketing of Gateway locations within each Region as the locations of critical mass, i.e. sufficient scale of population, skills infrastructure, companies, business services etc., and highlights the opportunities provided by Hub locations which are within commuting distances of these Gateways. In addition, IDA Ireland promotes other locations as part of its marketing efforts and in response to specific client requirements. It must be remembered, however, that in all cases, it is the investor who decides where to locate.
With continuing enhancement and improvements in physical and digital infrastructure, an FDI project secured for one Gateway Economic Region has a positive impact on other Gateway Economic Regions and surrounding areas. A relevant example of this is the recent announcement by PayPal who will create c. 1,000 new jobs over the next 4 years in Dundalk. This investment will have a positive economic impact directly and indirectly, not only in the North East Economic Region, but also in the East Economic Region, of which Meath is a part.
