Mr. Martin Shanahan:

Yes. It can be seen in some places in the south east that where there is an institute of technology such as in Waterford, there is more investment and there has been more indigenous growth. IDA Ireland is not the only arm of the State involved in industrial development, but one can see the benefit of an institute. It is not important whether it is an institute of technology or a university, although a university has more cachet; it is what the institute does that is most important. Where there are such institutes, one can see clusters emerging. In practical terms, we had a property solution on the ground which we were able to sell to a pharma company very quickly to create jobs and we are about to do the same again. That is how we start to build a cluster and we move on from there. Other counties in the south east also have opportunities. On Monday I addressed a financial services seminar in Gorey at which some very strong players were present with which we have the ambition to build a cluster. We also need to continue to improve on other things, not just in the south east region but also across Ireland because we are competing with everybody else.