Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

I was asked by the Minister for Enterprise, Trade and Employment, Deputy Coughlan, to take this Adjournment matter on her behalf and I thank the Deputy for raising it. Yesterday, I attended with the Deputy a development in his constituency and I was well received by him and all colleagues in the Waterford city area.

The recent increase in unemployment is unwelcome and is an indication of the challenges that are now facing the labour market and the economy as a whole. The Government is taking specific measures to address these challenges and to ensure that job losses are minimised as much as possible. Our priority is to create an environment that will allow those who have lost their jobs to quickly return to the labour market. The enterprise development agencies along with FÁS are actively engaged in facilitating job opportunities in Waterford.

IDA Ireland's strategy for the Waterford area is to progress the development of a knowledge-based economy so that the region can compete both nationally and internationally for foreign direct investment. The key sectors being targeted are pharmaceuticals, medical technologies, ICT and international financial services. At present there are 32 IDA Ireland supported companies in Waterford city and county employing approximately 6,416 people. Since the start of 2008, IDA Ireland has announced the expansion of a number of IDA client companies with a potential to create 485 jobs.

Recent investment announcements for County Waterford include the following. In April 2008, GlaxoSmithKline, one of the largest pharmaceutical companies in the world, announced it is to invest a further €30 million in the expansion of its existing over-the-counter pharmaceutical manufacturing facilities in Dungarvan, County Waterford. This investment will create 50 new high-quality jobs over three years in the production of a product to aid people to quit smoking. In April 2008, Lancaster Laboratories, one of the largest commercial analytical laboratories in the US, announced it is expanding its operation in Dungarvan, County Waterford, following the acquisition of an Irish company, Microchem Labs in 2007. Over the next five years, 100 new high-level positions will be created.

Also in April 2008, Genzyme Ireland announced that it is to invest €130 million to create 170 highly skilled positions and significantly increase the manufacturing capacity at its Waterford facility over the next three years. The €130 million investment is to expand its sterile fill finish manufacturing operation, introduce soft gel capsule manufacture and create highly skilled positions in manufacturing, quality and engineering.

In March 2008, Teva Pharmaceuticals, formerly Ivax, announced that it is investing €65 million at its existing facility in Waterford. The investment will create up to 165 highly-skilled positions over five years in this global pharmaceutical company which specialises in the development, production and marketing of branded and generic pharmaceuticals and active pharmaceutical ingredients.

As well as marketing the region for new greenfield investment, IDA Ireland continues to work with existing clients to broaden their mandate in Ireland and to continue to re-invest in their sites within the region. IDA Ireland strongly encourages client companies to invest in research and development and provides a comprehensive research and development package to support this activity. IDA Ireland continues to develop property solutions to world-class standards appropriate to current trends in foreign direct investment. To cater for the specialised high quality intensive needs of the biotechnology and ICT sectors, IDA Ireland is in the process of developing a number of large-scale, fully serviced industrial sites throughout the country. One of these sites is at Belview, Waterford and amounts to 55 hectares.

As part of the process of developing the capabilities of the region, IDA Ireland works very closely with its partners such as local authorities, Enterprise Ireland and a range of private sector interests who supply business support services throughout the region. IDA Ireland continues to work closely with the third level educational institutions in the region so that the skill-sets necessary to attract high-value-added employment to the region are being developed. In addition, IDA Ireland maintains a close relationship with FÁS so that the requirements of industry, particularly in the areas of training and up-skilling, are being met.

Indigenous companies have also added to employment creation in the county over many years, with more than 4,000 employed in Enterprise Ireland client companies in Waterford. Enterprise Ireland supports the enterprise platform programme, a one-year incubation programme in Waterford Institute of Technology, designed to provide hands-on support and management development for entrepreneurs wanting to set up their own business, by funding eligible participants to attend. At present 17 candidates are on the programme, which commenced at the end of September 2008.

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