Oireachtas Joint and Select Committees

Thursday, 12 February 2015

Public Accounts Committee

2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
IDA Ireland - Financial Statement 2013
Enterprise Ireland - Financial Statement 2013

10:00 am

Mr. Martin Shanahan:

I do not dispute that there is an imbalance in terms of the regional profile of foreign direct investment. What I am trying to bring to the discussion is some of the reality about the extent to which the expectations can be met, no matter how hard IDA markets a particular area. In my response to Deputy O'Donovan, I was trying to put in context that a whole region will have a population base of 500,000 people, from within which we have to draw a talent pool. We are competing with numerous international mega-cities which have multiples of that. This is the reality of being out in the market and trying to attract companies. I will be honest with the Chairman by explaining that they are blind to county borders and blind to cities or towns. They want to know that they can achieve what they need to do in the area, which is to set up and attract the talent. To attract the talent, locations need to be attractive places in which to live and work and provide all of the other things, such as the infrastructure and public transport. That is the reality. It is not within our gift to move these investments around. They make the ultimate decision. What we can do and what we will do is to work with the local authorities. I am surprised to learn that a county council has written to us and has not received a response because it is normal practice in the IDA to respond to all sorts of correspondence, much of which comes from public representatives at local level. We will continue to work with local authorities and there will be a more structured forum now through the regional action plans.