Oireachtas Joint and Select Committees

Thursday, 19 September 2013

Public Accounts Committee

Annual Report and Accounts 2012: Discussion with IDA Ireland

10:50 am

Mr. Barry O'Leary:

We have a number of properties, a number of sites, around the country. The big land banks would be the strategic sites. Merck in Carlow bought our 65 acre strategic site because it could immediately provide the infrastructure for a vaccines facility. It bought that site maybe four years ago. Today it has nearly 500 people on site. One could say the same about Coca-Cola in Wexford. Of course, we get professional valuers every six months to value in line with market conditions. Therefore, it is pretty much the case that we are marked to market effectively. We do not value properties; it is actually done by property valuers.