Oireachtas Joint and Select Committees

Thursday, 5 October 2017

Public Accounts Committee

IDA - Financial Statement 2016

9:00 am

Mr. Martin Shanahan:

We know exactly what we have and we can break that down. In relation to sites that close, unfortunately, it is a feature of the world we live in that enterprise fluctuates and different companies' fortunes fluctuate. Where there has been a significant industry - Deputy Murphy cited an example in her own constituency - it has developed skills. There is a site there to be marketed. There is very good property on that site, to be marketed. While the point at which a company is exiting is extremely regrettable and we make every effort to ensure it does not happen, it does give that area an opportunity to attract new investment. It puts it ahead, maybe, of some other areas where one does not have that pool of talent, property and site available. Unfortunately, we have a few of those examples throughout the country and it will be ever thus.

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