Micheál Martin (Cork South Central, Fianna Fail)

Shannon Development is responsible for the development of Ennis Information Age Park. It always made clear that it is a 15 to 20-year development. I understand all local Deputies supported that initiative by Shannon Development and continue to do so. To be fair to Shannon Development, it almost manages within its own resources. The manner in which it developed its property portfolio generated significant revenues which enabled it to plough it back into enterprise development.

The most recent successful company it supported was Stockbyte, based in the technology park in Tralee, which was floated and is a great success. I met Stockbyte representatives prior to the floatation and they articulated strong appreciation for the role of Shannon Development in the company's early stage support.

I gave a new mandate to Shannon Development which gives it certainty and security in terms of the broad regional economic development of the region in the future. It is important that the national and international resources which Enterprise Ireland has are brought in a more focused and effective way to many of the indigenous companies in the Shannon region. That would be a win-win situation for all concerned.

Clare has a strong foreign direct investment base, contrary to the rhetoric articulated from time to time. Total State supported foreign direct investment employment now represents approximately 15% of the labour force in County Clare. That compares with 7% in the national labour force. I accept that includes the Shannon Free Zone as well as IDA Ireland backed employment. Clare has been a good magnet for foreign direct investment.

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