Mary Butler (Waterford, Fianna Fail) | Oireachtas source

The national planning framework will mean little if it is not backed up by co-ordinated capital investment and implementation across each tier of governance from local government upwards. I welcome this opportunity to talk about the national planning framework with regard to my constituency of Waterford and the south-east region. Despite the improving economy in the country, Waterford and the south east continue to have the highest unemployment figures in the State. The figures remain stubbornly high at 8.5%, including the counties of Waterford, Carlow, Kilkenny, Tipperary and Wexford. The average rate of unemployment throughout the rest of the country is 6.1%. The ambition set out by the Government to reduce the joblessness rate to within 1% of the national rate is still more aspirational than achievable.

Recently, a fantastic opportunity has presented itself for Waterford through the hard work and efforts of Waterford City and County Council under the leadership of CEO Michael Walsh. The proposed investment in Waterford city by the Alhokair Group from Saudi Arabia has provided a much-needed confidence boost for the city of Waterford and indeed the whole south east. The proposed development at a cost of €300 million will be a game changer for Waterford. The south east absolutely needs a regional city of consequence and that must be Waterford. It must be enabled for propulsive growth. For regions to be strong regions, they need a strong city. Being closest to Dublin with a very impressive road network, Waterford must be enabled to be an alternative to Dublin. Encouraging the growth of population in Waterford and the south east will act as a release for Dublin's overheating issues regarding housing, transport congestion and education.

The North Quays is a project of strategic importance to Waterford and the region and the development of the Michael Street shopping centre is also very significant. The region requires the capital to be assigned to it in light of the fantastic opportunity we have been offered. The proposed development has the clear potential to give Waterford and the south-east region the emphasis it needs to produce additional, permanent services such as health care, education and transport and will result in an enhanced economy overall. The proposed development will happen on 8.25 ha of substantial and spectacular river frontage. The proposal includes 30,000 sq. m of retail space, 15,000 sq. m of hotel and conference space and 30,000 sq. m of residential space. The residential space is expected to include 300 units, of which 100 will be owned by Waterford City and County Council, which will immediately result in a reduction in the already extremely high local authority waiting list. The proposal also includes a significant pedestrian bridge which will be a focal point linking the North Quays with the city.

The proposal also includes the relocation of Plunkett railway station and the relocation of Waterford Crystal Visitor Centre. It is estimated that 1,000 jobs will be created during the construction phase and a further 2,300 permanent jobs will be created on completion in the various industries and services, including retail, tourism and knowledge-based enterprise. The draft plans for this hugely significant development are now on view for the public, which will transform the way we are viewed and how we could be seen as a regional city of importance and significance, the economic driver of the south east, and our rightful position as Ireland's oldest city.

The proposed North Quays development has the potential to kick-start the economic recovery in the south east. The Alhokair Group is coming to the table with €220 million and the local authority is proposing between €5 and €10 million, while the shortfall of €61.5 million will have to come from Government funds and State investment. The city and county council has done an amazing job in getting the project to the current stage. We now need to see how seriously the Government views promoting regional economic development. The city and county council has applied to the Government for this significant funding to advance this proposal. However, it is very important to state that it will be extremely unlikely that this project will get over the line without State funding. The employment and housing opportunities cannot be under-estimated. This is an opportunity of a lifetime and a generation and cannot be seen as a missed opportunity. Cork and Limerick are seeing massive investment in their city centres. Waterford cannot be the bridesmaid any more. I am calling on the Government to step up to the plate and show Waterford that it cares about its economic future and provide the capital investment to let this project commence.

An independent report was recently prepared for Waterford City and County Council by INDECON International Economic Consultants and the conclusions raised are extremely positive. INDECON's assessment highlights the significant potential economic benefits offered by the Waterford redevelopment project. This reflects the role of the project in assisting Waterford to realise its potential to develop as a regional driver of economic growth. It should be noted that the benefits will only be achieved if the proposed private sector investments are made and will require initiatives to ensure that Waterford capitalises on the opportunities arising from the Ancient East tourism initiative. Other supporting actions must be taken to develop the region as an attractive competitive location for foreign and indigenous investment.

The proposed major development plans for Waterford would bring the city in line other Irish cities and signal to international investors that the city and region is open for business. Indecon’s independent analysis indicates the proposed investment would provide a net benefit to society in socio-economic terms. The recent opening of the fantastic greenway of 46 km which links Dungarvan and Waterford has already been a game-changer for Waterford city and county. This fantastic amenity of off-road cycling and walking trail along the old railway track is a beautiful journey amid beautiful scenery between the sea and the mountains in parts. The success of the greenway has been unprecedented with visitor figures bearing this out. The village of Kilmacthomas has been rejuvenated, with small businesses opening, employment opportunities and a general feeling of optimism, which we have not seen in a while. Dungarvan, our county town, has never been busier with hotels and restaurants showing a marked increase in business. The spin-off has been truly phenomenal.

Waterford needs this opportunity and university status for WIT would be a game-changer. That is why I asked the Minister for Education and Skills about the Technological Universities Bill. It is essential the Bill comes before the House as soon as possible. To have a technological university for the south east will be a game-changer. Waterford is the economic driver of the south east. It is imperative we get this up and running.

Waterford city has been constrained in its growth by an absence of key infrastructure particularly in respect of its river crossings and city centre access. As a consequence its development has been compromised leading to a less sustainable city centre which is not delivering on its economic potential. The city is transforming from a historical manufacturing and port city to one where advanced manufacturing and knowledge-based industries can marry with a significantly enhanced service sector, particularly in tourism and retail, to deliver an urban centre that can be a real driver for regional development and a centre of consequence in the national picture. I ask the Minister of State to consider the future of Waterford and the south east, our economic and regional future and include this investment in the national planning framework.

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