Pádraic McCormack (Galway West, Fine Gael)

I thank my colleague, Deputy Coveney, Fine Gael spokesperson on the marine, for his support for the Volvo Ocean Race stopover in Galway. The Galway committee, headed by John Killeen, already has lodged its bid and its submissions to the Volvo Ocean Race organisers to have Galway selected as a stopover venue for the 2012 ocean race. The committee has received notice that it has a deadline of 29 January to have in place a pledge from the Government to the effect that the necessary grant of approximately €6 million would be forthcoming for 2011 or 2012 and such a pledge is necessary to have the committee's bid even considered. However, were such a pledge or letter of comfort to be supplied by the Minister, Galway, which is on a short list of three sites, would have a great chance of being selected as a stopover stage for the 2012 race.

This pledge of financial support from the Government would be repaid to the Exchequer one hundred fold if Galway and Ireland again secured the stopover. Nationally and internationally it is recognised that Galway was one of the outstanding stopovers and was a huge success last year both from the point of view of the Volvo Ocean Race and the benefit to Galway and surrounding areas, which is estimated to have generated up to 200,000 bed nights in May and June last year. Fáilte Ireland is strongly supporting the Galway bid and an independent report by Ernst & Young established that last year's event generated €60 million in expenditure by people outside a 40 km radius of Galway. The investment, if forthcoming from the Government, would be a gilt edge investment. Last year, the Galway committee headed by John Killeen, John Concannon, Fáilte Ireland and Enda O'Cuinnin had the vision, courage and tenacity to pursue this dream which culminated in the outstanding success of the Galway stopover and which surpassed the wildest dreams and expectations of everyone. I acknowledge the support of the Galway Harbour Board, Galway City Council, Galway County Council and the hundreds of volunteers who worked on this.

I appeal to the Minister and the Government for the necessary financial commitment which will enable Galway and Ireland to again secure a stopover for the race in 2012. The benefits to Ireland of the international publicity that this would attract is immeasurable.

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