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Industrial Development

Dáil Éireann Debate, Thursday - 19 May 2022

Thursday, 19 May 2022

Ceisteanna (43)

James Lawless

Ceist:

43. Deputy James Lawless asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will provide an update on the progress made to date in the implementation in the mid-east region of the IDA Strategy - Driving Recovery & Sustainable Growth 2021 – 2024; and if he will make a statement on the matter. [24985/22]

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Freagraí scríofa

Regional development is at the centre of IDA Ireland's current strategy “Driving Recovery & Sustainable Growth 2021-2024”. Of the target 800 investments in the Strategy, half are targeted at regional locations.

As the Deputy may be aware, IDA Ireland announces mid and end year results. The latest results, released in December last year, show a very strong first year of this Strategy. Highlights of IDA Ireland’s performance throughout 2021 include the creation of over 29,000 new jobs in IDA supported client companies, bringing the numbers directly employed in the multinational sector in Ireland to 275,384.

The net number of jobs created in 2021 was 16,826 demonstrating the continued resilience of the existing FDI base. In total 249 investments were won, 104 of these being new name investments. More than half (53%) of investments won during 2021 went to regional locations with every region experiencing growth.

The Mid East Region includes counties Meath, Kildare, Wicklow and Louth. There are 103 IDA client companies in the Mid-East Region employing 18,894 people directly and an additional 15,115 Indirect jobs supported.

IDA Ireland client employment in the region grew by 5% in 2021 with an additional 933 net jobs created.

FDI performance in the region has been consistent over the past five years with employment among IDA clients increasing by 8%. Counties in the Mid-East also benefit hugely from the direct and indirect employment generated by IDA client companies located in Dublin. The Mid-East has a significant ecosystem of well-established companies across Technology, Life Sciences, International Financial Services and Engineering & Industrial Technologies. It has also won significant investment in the Food and the Film sub-sectors.

From an economic impact perspective, it is estimated that IDA Client companies spent €1,201 million on payroll during 2020 with €840 million spent on Services and Materials and €121 million spent on in-house R&D (2020 ABSEI).

IDA Property developments in the Region include the delivery of an Advanced Office Building in Dundalk during the last IDA strategy and infrastructure upgrade work on Dundalk Business & Technology Park with significant work also completed on the Mullagharlin Strategic Site. IDA also acquired 200 acres of land in Newbridge in November 2019.

The 2021 figures show a pattern of sustained, robust growth in FDI investment and employment over a continuous period of more than ten years. IDA Ireland is targeting 40 investments for the Mid-East region in the period 2021 to 2024.

I expect the IDA’s 2022 Mid-Year results to be announced in June.

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