Micheál Martin (Cork South Central, Fianna Fail)

IDA Ireland is the agency with statutory responsibility for the attraction of foreign direct investment, FDI, to Ireland and its regions. The marketing of individual areas for new or expansion FDI investments and jobs is a day-to-day operational matter for the agency.

During 2007, the latest period for which data are available, 9,216 new jobs were created in IDA supported companies, of which 1,446 were created in the Border, midlands and western, BMW, region. This figure represents 16% of all new jobs created that year.

At present there are 184 IDA supported companies in the BMW region employing 26,430 people, which represents almost 20% of all IDA supported employment in the country. The impact of FDI in Ireland goes much deeper than job creation alone. The positive impact is visible in many key aspects of Irish life. Foreign-owned companies are at the cutting edge of demand for high skills, advanced management training and business processes, which permeates the wider business community. These companies have contributed to the broadening of the economic base in Ireland by fostering entrepreneurial activities and new start-up companies aimed at supporting and selling to foreign-owned companies.

In line with the national spatial strategy, IDA is focused on delivering investments to all of the gateway and hub locations. This strategy involves matching investor requirements with the competencies, infrastructure and critical mass of these locations to secure the maximum number of investments for Ireland. The key sectors of focus for IDA are life sciences, information and communications technologies and high-value international services activities. Of the five strategic sites currently being marketed by IDA Ireland, two are in the BMW region, one in Galway and one in Louth and another is on the way.

The nature of foreign direct investment has changed and Ireland is now competing for premium mobile investments against the most advanced countries in the world. As Ireland competes for investments at the highest end of the value chain the concept of scale is crucial to our economic destiny. Leading corporations require a significant population of highly qualified and talented individuals, effective physical and digital infrastructure and the availability of sophisticated professional support services. If we are to make progress in attracting FDI to the regions we need to continue our investments under the national development plan, NDP, and all economic and social stakeholders will need to commit to the goal of balanced regional development as envisaged in the national spatial strategy. Future thinking and action must have a regional rather than a local bias and this requires a significant change in mindset.

I am confident that the policies being pursued by the development agencies, together with the roll-out of the national development plan, will continue to bear fruit in terms of employment and investment in the region.

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