Industrial Development

Dáil Éireann Debate, Thursday - 19 July 2012

Thursday, 19 July 2012

Ceisteanna (304)

Brendan Smith

Ceist:

305 Deputy Brendan Smith asked the Minister for Jobs, Enterprise and Innovation if the industrial development agency proposes to dispose of serviced land adjacent to Cavan town; the reason such a disposal has been decided upon in view of the major investment some years ago in servicing that land; his views on whether the availability of such serviced land is an important consideration in trying to attract inward investment to County Cavan; if this decision sends out a negative message in relation to the possibility of attracting inward investment to County Cavan and the IDA's efforts in this regard; and if he will make a statement on the matter. [36563/12]

Freagraí scríofa

Minister for Jobs, Enterprise and Innovation (Deputy Richard Bruton)

Under the Industrial Development Acts, the purchase, disposal or leasing of property by IDA Ireland is an operational matter for the Agency, and not one in which I have a function. I have been informed by IDA Ireland that it recently advertised the sale of a number of land banks nationally including the Cavan Business and Technology Park. This is in accordance with IDA's strategy to rebalance its property portfolio in the current challenging economic climate.

IDA has assured me that it would consider opportunities to utilise its property portfolio in Cavan to attract other non-traditional type investments into the region, which do not fall under the general remit of IDA or Enterprise Ireland but which could create investment and employment opportunities. However, in this connection, I should point out that in keeping with the proper handling of State assets and finance IDA is required to ensure that all property transactions, whether with industry or other parties, are on the basis of current market valuation.

IDA Ireland has assured me that it continues to work closely with client companies in Cavan who currently employ over 1,100 people.