Dáil Éireann Debate, Wednesday - 6 March 2019
150. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation if IDA Ireland has the power to take equity stakes in client companies; and if she will make a statement on the matter. [10990/19]
Amharc ar fhreagraThe IDA is authorised by my Department to provide a range of financial supports in the form of employment, capital, research and development, environmental and training grants. These grants are an important means of encouraging companies to invest in Ireland, particularly in regional locations.
With regards to equity stakes in client companies, under Section 31 of the Industrial Development Act 1986 (as amended), IDA Ireland does have the power, subject to strict criteria, to subscribe for shares in certain undertakings. The IDA, however, has never exercised this power to date.
