Billy Kelleher (Cork North Central, Fianna Fail)

——and the competition in the global market for foreign direct investment. We are competitive with other countries in terms of a flexible workforce, low corporation taxes and highly educated third-level graduates and Ireland is actively pursuing direct investment.

For fear that the Deputy takes these matters for granted, it is important that we set out the success of IDA Ireland rather than talk ourselves down. Zimmer Holdings, a global leader in medical devices, is establishing a new €88 million manufacturing operations base in Shannon, County Clare and is expected to create 250 jobs. This is a collaborative effort between IDA Ireland and Shannon Development. Unum is establishing a strategic software centre in Carlow town with the support of IDA Ireland. This investment will create up to 200 high level positions. Citco fund services is to expand its Cork city hedge fund administrative operations, which will create 150 jobs over the next three years. Ely Lilly is to invest up to €400 million in a multi-phase programme to establish a bio-pharmaceutical development and manufacturing facility in Kinsale. This investment will bring up to 200 jobs over the next five years. Genzyme, a leading global biotechnology company, is to invest €130 million at its Irish operations plant in Waterford. This investment will create 170 highly skilled positions and significantly increase the manufacturing capacity of the facility over the next three years. It is important that we outline the success of the IDA in actively encouraging FDI.

When Ministers go abroad, we actively sell Ireland as a place that is open and flexible, with the capacity to receive direct investment.

The Minister of State, Deputy McGuinness, has met representatives of Enterprise Ireland and the county enterprise boards. At present, 56 community enterprise applications are being assessed, which is a substantial number.

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