Dáil Éireann Debate, Tuesday - 16 July 2013
452. Deputy Caoimhghín Ó Caoláin asked the Minister for Jobs, Enterprise and Innovation if he will take the appropriate steps to compel the Industrial Development Authority to act as a State body, treating all counties and potential locations for inward investment equally; if he has given any consideration to introducing performance targets by county; and if he will make a statement on the matter. [34453/13]
Amharc ar fhreagraIn seeking to achieve balanced regional development and the broader goal of securing new foreign direct investment (FDI) projects for Ireland in a very competitive global environment, the concept of scale is crucial. In order to achieve balanced regional economic development, IDA prioritises the marketing of its Gateway locations within each region as the locations of critical mass and highlights the opportunities provided by other locations on an opportunistic basis, which are within commuting distances of these Gateways.
I am mindful of the concerns that have been expressed to me by Deputies on all sides of the House about the level of site visits to certain regional locations. I have, accordingly, raised this matter with the CEO of IDA Ireland with a view to exploring what further initiatives can be taken to influence potential investors to invest in such locations. That having been said, however, locations outside of Dublin and the main urban centres already facilitate the presence of a large number of multinational companies who have invested over the years, span multiple sectors and employ significant amounts of people. The primary opportunity for regional locations is in respect of the existing client base and potential further investment opportunities from same. Approximately 70% of all FDI investments won by IDA is from the existing client base.
In order to ensure that Ireland can continue to compete globally for foreign direct investment, an in depth analysis of our FDI strategy with a view to informing the formulation of an appropriate strategy for the period post-2014 is currently being undertaken. This analysis, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, any change to the EU’s State Aid rules that may be introduced in the near future and our approach to regional development
