Micheál Martin (Cork South Central, Fianna Fail)

Last month, the company in question informed IDA Ireland that it was entering into a consultation period with its staff with a view to seeking up to 150 redundancies at its Cork facility. While the company started consultations with employee representatives on 3 May 2006, it was also seeking alternative business for the Cork facility. Fortunately, I understand there is scope for redeployment within the facility and this option has been communicated to the employee representatives.

The Cork facility is part of the company's networks business, one of the parent company's four business segments, and the potential loss of jobs is directly due to falling sales in the networks business area. In the event that there are redundancies, it is expected that they will commence in June and continue into July of this year and I am satisfied that they will be kept to a minimum. I understand that, as of now, a significant number of opportunities have been identified in the form of redeployment.

The industrial development agencies continue to promote Cork for employment opportunities. The strategy of IDA Ireland to create employment in Cork is to progress the development of a knowledge economy in order that the city can compete both nationally and internationally for foreign direct investment. The agency is also working with its existing client base to expand its presence in Cork as well as providing modern property solutions with supporting infrastructure in the area. New investment announcements made this year include Amgen, Citco, AIB-Bank of New York and Amazon. These four projects alone will create some 2,000 jobs in the next few years. A number of job announcements for the city and county were also made at the end of last year.

Enterprise Ireland is also actively involved in assisting its client companies to expand their businesses. To date this year Enterprise Ireland has approved grants totalling €5.2 million for County Cork, with four new companies approved in the first four months of 2006 and a strong pipeline ahead. Two of the approved new companies are located in Mahon. Since the beginning of 2005 Enterprise Ireland has made payments of over €10 million to its client companies in County Cork. This investment was primarily to support new business employment as well as research and development, capital investment and staff training. I am confident the industrial development agencies will continue to bring sustainable investment and job opportunities to the Cork region in the foreseeable future.

See this speech in context