Micheál Martin (Cork South Central, Fianna Fail)

IDA Ireland has statutory responsibility for the attraction of foreign direct investment to the mid-west region, except for the Shannon free zone which falls within the remitof Shannon Development. Shannon Development is also responsible for supporting indigenous enterprises in the mid-west region. The city and county enterprise boards located in the region also help develop indigenous enterprise potential and stimulate economic activity at local level.

In 2004, Clare County Enterprise Board approved a total of €374,830 in grant assistance to 36 micro-enterprise projects at start-up or expansion stage with an employment potential of 67 jobs throughout the county.

IDA Ireland's sectoral emphasis in the mid-west region is on attracting new knowledge intensive projects in information communications and technology, international services, medical technologies and life sciences. Between 2001 and 2004, IDA Ireland companies in the mid-west committed to research and development projects worth €37 million.

Last year was a successful one for the mid-west region. Cook Incorporated announced its intention to establish its European shared services centre in Limerick which will add 50 new high quality jobs. Power-One Ireland Limited announced plans to expand its design team and establish its European customer and technical support centre which will create 29 jobs. Organic Lens announced a €6.5 million investment for the development of its manufacturing operations which will create 100 jobs. Monster Cable announced its intention to establish a shared services centre in Ennis which will create 50 jobs.

There was a net gain in the Shannon free zone of 147 jobs and a significant increase in the number of firms undertaking research and development. Shannon Development is in discussion with a number of organisations with a view to first-time investment in the zone. In addition, Shannon Development is in discussions with its existing portfolio of client companies to secure more of their parent company group activity for Shannon.

Shannon Development works with existing client companies throughout the remainder of the Shannon region to help develop the competitiveness of indigenous industry clients and to provide the services, infrastructure and support for aspirant high potential start-ups. This is done through the provision of financial supports and through individual programmes such as venture start, WCM programmes, Design Shannon and through the establishment and encouragement of business networks such as Supply Network Shannon.

See this speech in context