Seán Sherlock (Cork East, Labour)

I am grateful for the opportunity to raise this matter. The announcement by Amgen has come as a body-blow to the east Cork region. The economic loss to Carrigtwohill and surrounding areas is unquantifiable. I empathise with those people who have lost their jobs in the company. While global corporate entities like Amgen are subject to the vagaries of international markets, the people of the region accepted in good faith statements made by the company in April that a delay of two years in the project would not amount to a complete cessation of it. I put it to the Minister that a second announcement yesterday to the effect that the project is indefinitely postponed is nothing more than spin and a deliberate attempt to play down the decision not to proceed. Anyone with common sense must conclude that two postponements in six months is tantamount to a cessation.

The Government has serious questions to answer. Questions arise as to whether Amgen or IDA Ireland is the beneficial owner of the site at which the project was to proceed. We must also ask what will happen to the site in the event of a further postponement or acknowledgement of cessation. The project was to be the mainstay of the region and Middleton, Youghal and other centres of population had placed their bets on it. Many young people invested in housing in the region on foot of the promise of foreign direct investment by Amgen. I put it to the Minister that we have been dealt a hammer blow and that people are extremely disappointed. Expectation in this context has not been managed well by the Government, which now has a serious case to answer. The Minister has a responsibility to deliver to the people of the region.

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