Oireachtas Joint and Select Committees

Thursday, 5 October 2017

Public Accounts Committee

IDA - Financial Statement 2016

9:00 am

Mr. Martin Shanahan:

There are detailed criteria. In summary, we look at population size - this goes back to the responses I made to the questions put by Deputy Cassells. We look at the skills base within the area. We look at the existing enterprise space, which could be an Enterprise Ireland, IDA Ireland or other enterprise space – it is not exclusively to do with IDA Ireland space. We look at proximity to third level institutions. We look at the general infrastructure. It is a matter of balance in ensuring that we put them into areas where there is reasonable chance of getting it to work. Moreover, we only do this where there is market failure. In an ideal world, we want the private sector to do this. IDA Ireland is the developer of last resort in this area. It is not something that anyone would want the national promotion and development agency to do. We do it because the private market has not responded. We also examine the existing offering within the region. If there is existing office space or an existing factory that is available, then we market that. We do not only market our own buildings. We market private sector buildings too.

As the Deputy rightly pointed out and as he knows well, the midlands area is challenged. Having said that, there has been some success, especially in Deputy Burke's county with Center Parcs. We are optimistic in respect of other developments over the short to medium term.

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