Dáil Éireann Debate, Thursday - 8 September 2022
4. Deputy Fergus O'Dowd asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will seek briefings from the IDA and Enterprise Ireland on the work they are currently undertaking to actively secure foreign and indigenous direct investment in the mid-County Louth areas of Ardee and Dunleer; and if he will make a statement on the matter. [42333/22]
Amharc ar fhreagraIDA’s strategy identifies the opportunities for sustainable growth among IDA’s established base of clients through a focus on transformative investments to increase the productivity of Irish operations and their workforce through RD&I, digitisation, training and actions on sustainability. Crucially it also maintains a focus on attracting the next generation of leading MNCs to locate in Ireland, further driving sustainable growth and maximising the impact of FDI in Ireland to 2024 and beyond.
There are currently 35 FDI companies in County Louth. The FDI performance in the North-East Region has been strong over the past five years with employment growing among IDA clients within the Engineering & Industrial Technologies, Medical Technologies, Technology, International Financial Services and Life Sciences sectors. In recent years, IDA Ireland supported companies including WUXI, Wasdell, Almac, PCI Pharma Services, Amazon Web Services and Simply NUC have announced investments and expansions for Co. Louth which has driven the demand for property solutions.
As part of IDA Ireland’s focus for County Louth, of which Ardee and Dunleer are included, the Agency recently announced that it has acquired two landbanks with a combined total of 149 acres, situated at the townland of Killally, in Dundalk and Mell in Drogheda. These form part of IDA’s long term strategic plans to position Louth and the wider North-East region to compete for FDI investment. Both sets of lands have been added to the IDA marketing database. A review is underway with respect to further servicing considerations and best positioning of the landbanks to potential FDI investment opportunities.
Enterprise Ireland is focused on the creation of new jobs through supporting entrepreneurs in manufacturing and internationally traded services companies who are setting up new High Potential Start-Up Companies, growing jobs in existing companies and enhancing the innovation capability of Ireland at a national and regional level through support of research in companies and third level institutions.
On the start-up side Enterprise Ireland provides a range of supports for high potential start-up companies including, financial supports, business and marketing advice, mentoring, product development etc. Enterprise Ireland also supports the provision of incubation space for new start-ups both on college campuses and Community Enterprise Centres. Enterprise Ireland’s Strategy 2022-2024 is focused on strengthening regional enterprise development during this strategy period. The response will reflect the varying needs and opportunities of enterprise across the different regions and will encompass working directly with companies in the regions, including investment by food FDI. EI also works with regionally-based partners through the Regional Enterprise Plan Steering Committees.
Enterprise Ireland has supported and continues to work with 6 projects in County Louth, funded under either Regional Enterprise Development Fund (REDF) or Border Enterprise Development Fund (BEDF) bringing total investment of almost €11.5m. This is aimed at accelerating economic recovery by delivering on the potential of local and regional enterprise strengths. The Funds will support significant collaborative regional initiatives to build on specific industry sectoral strengths and improve enterprise capability, thereby driving job creation. On March 24, 2022 a further €12 million in funding to address increased construction costs for approved REDF/BEDF projects was announced.
In 2021, Enterprise Ireland has made payments of €8,265,005 to client companies in County Louth.
