Dáil Éireann Debate, Thursday - 11 May 2023
56. Deputy Peter Fitzpatrick asked the Minister for Enterprise, Trade and Employment if he will seek briefings from IDA Ireland and Enterprise Ireland on the work they are currently undertaking to actively secure foreign and indigenous direct investment in areas in County Louth, such as at a complex in Dundalk (details supplied); and if he will make a statement on the matter. [21905/23]
Amharc ar fhreagraThis question is to ask the Minister for Enterprise, Trade and Employment if he will seek briefings from IDA Ireland and Enterprise Ireland on the work that they are currently undertaking to actively secure foreign and indigenous direct investment in areas in County Louth, such as at a complex in Dundalk regarding which details have been supplied, and if he will make a statement on the matter.
Regional development is at the centre of the Government's enterprise policy, as set out in the White Paper on enterprise, and it is the key focus of our Department's leadership of the regional enterprise plans. Similarly, the IDA’s strategy, Driving Recovery and Sustainability 2021-2024, has an ambitious target of 800 investments over the lifetime of its current strategy, and it will target half of all investments to regional locations.
The foreign direct investment, FDI, performance in the mid-east, which comprises counties Louth, Meath, Kildare and Wicklow, has been strong over the past five years.
County Louth is home to 36 IDA Ireland client companies directly employing 4,485 people. Enterprise Ireland clients support 6,369 jobs in Louth, 613 of which were created last year alone.
The timely provision of appropriate, cost-effective property and infrastructure solutions to meet the needs of multinational companies remains essential to winning FDI. In June 2021, IDA Ireland acquired two land banks in County Louth. These land acquisitions, with a combined total of 157 acres, are situated in Drogheda and Dundalk and form part of the IDA’s long-term strategic plan to position Louth and the wider region to compete for FDI investment. The IDA has also delivered an advanced office solution on IDA’s Finnabair Business Park and an advanced business solution building at IDA’s Mullaharlin science and technology park in Dundalk. The agency also plans to commence the delivery of an advanced building solution in Drogheda as part of the current strategy.
The IDA continues to work with private sector commercial property owners, developers and local authorities to market other property solutions across all regions where they exist. The IDA is familiar with the property and infrastructure solution that the Xerox business campus offers to potential new enterprises and actively markets such potential property solutions for FDI and to meet the needs of Enterprise Ireland clients.
I was in Dundalk a couple of weeks ago with one of the Deputy's colleagues. There are some amazing business opportunities happening in the town in terms of new indigenous business and making the most of the creative spark hub, but there is also huge investment coming in from abroad. It is fair to say the town is thriving, but we remain ambitious for Dundalk and the entire region.
The Department saw an increase last year in the number of early warning reports for FDI companies which may be experiencing trading difficulties or are ceasing operations in Ireland. The number of early warning reports for the first 11 months of 2022 is higher than the same period in 2021. We saw this in County Louth, with the exit of National Pen and the closure of PayPal and Actavis in recent years. There are currently a number of significant players being impacted by global trading conditions and the war in Ukraine. At a national level, the IDA strategy, Driving Recovery and Sustainable Growth 2021-2024, reflects the approach and ambition of the programme for Government whereby, in conjunction with the Department of Enterprise, Trade and Employment, the success of the IDA is measured by the impact of FDI on the Irish economy.
In terms of job creation and strategic achievements, the closure of the PayPal office in the Xerox complex and the empty state-of-the-art buildings on the Actavis and National Pen sites offer an opportunity for the IDA, the Department of Enterprise, Trade and Employment and Enterprise Ireland to attract new businesses and jobs to County Louth.
The Deputy is right. There has been an increase in the level of early warning reports and we all accept that a lot of that is due in part to a global restructuring, in particular in the tech sector, to which the Deputy referred in particular regarding PayPal. The one silver lining is that the global average has not impacted Ireland as much as the rest of the world. We have seen it being at a much lower scale in Ireland. Crucially, within the tech sector we are seeing net job increases across Ireland and the regions.
In Dundalk and the wider county of Louth, more jobs are being created and more companies are investing to offset what are very real concerns. No one ever wants to see anyone being made redundant, but the campus at Xerox offers a huge opportunity for FDI as well as indigenous business. All State agencies, as well as our Department, will make every effort to ensure that is supported. We are in a lucky position whereby we are at effective full employment nationally. We are seeing that repeated across regions, in particular in towns like Dundalk and the wider county of Louth.
I thank the Minister of State for visiting Dundalk. It is nice to know he came to Dundalk to sit down and have a chat. I appreciate that the IDA and Enterprise Ireland have, as the Minister of State said, been involved in 800 investments. There have been 36 in Louth alone, comprising 4,485 jobs. Enterprise Ireland has been involved in the creation of 630 jobs. This is all very welcome.
However, we have also seen the closure of the PayPal offices and the exit of National Pen. Many FDI companies do a fantastic job in the country, but some are leaving. I would appreciate if the Minister of State could come to Dundalk and have a chat. It is not only County Louth but the whole country which is affected by this.
We welcome the work that is being done. Corporation tax has been significant for the past number of years. The Minister of State said it will be €10 billion this year and €16 billion next year. The country went through a very bad time over recent years, and only for the likes of FDI in this country which paid corporation tax and did a great job, things could have been worse. Let us fix things before they are broken. I appreciate the good work the Minister of State and the Department are doing. I ask him to look at County Louth and make sure the sites are looked after.
When the Deputy was elected to the Dáil in 2011, unemployment was 15.6% nationally. It is now at 3.9%. Much of that is down to the fact that people like the Minister, Deputy Coveney, visited ten large multinationals in California at the start of the year to talk about Ireland not only as a place to maintain investment but also to look for new FDI, in particular in places like County Louth and the Xerox campus in Dundalk. There are huge opportunities there. There will be consistent efforts from the Government to protect existing jobs, build new ones and create a strong economic environment for FDI across the regions. The IDA is always looking for new opportunities or to revive opportunities in terms of land banks and places where there are opportunities. The site the Deputy mentioned in Dundalk is a great opportunity. There is net job growth in Dundalk, but we want to maintain that.
