Oireachtas Joint and Select Committees

Tuesday, 9 May 2023

Joint Oireachtas Committee on Housing, Planning and Local Government

Modern Construction Methods: Discussion (Resumed)

Mr. Sean Downey:

If you look at the profile of the existing off-site manufacturing companies, you will see many of them have a reason to exist already. They have a parent, in that they may be owned by a developer or they may have come from the timber frame sector and have grown over time. Some have grown over 25 years. The big ask has to be for strategic funding to support the capital expenditure. As Mr. Searson outlined, there is a very significant fixed capital cost associated with building a factory and providing permanent on-site jobs that demand a certain level of throughput in terms of factory units. The companies will not be able to seek investment if they do not have certainty. Low-cost finance and strategic finance from the State are desirable if we have excess money for which we are looking for a home.

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