Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

I want to reiterate that the Government believes that the sale of Ardmore to Olcott represents the best prospect for the development of Ardmore and quality employment in film production in the area, and will add to the attractiveness of facilities for film production in Ireland. There is a cluster in Wicklow and further investment in Ardmore Studios will attract many more films into the film production area. I genuinely believe this will be in the best interests of the film industry in County Wicklow.

I have been to Troy and Ardmore. There is no doubt that the facility needed investment. The people involved are specialised in the area of film production. This is their business. The Deputy should see what they have done in Troy. I expect and know they will invest in the facility in Wicklow and I can assure him that he will be pleased with the results. Troy is a wonderful facility. It was an old factory which was turned into a wonderful production centre for film. It has also created 500 jobs. I visited the facility. It is working with the local institute and ETB to train and upskill people in order to meet increased demand, something which has happened within the last short number of years. I have no doubt that what will happen in Ardmore will be very beneficial to the area.

The Government is fully committed to the development of the Irish film industry. My colleague, the Minister for Culture, Heritage and the Gaeltacht, Deputy Josepha Madigan, and I welcome the proposed investment in Ardmore Studios. It is important to note that the move has also been welcomed by the Irish Film Board. The State will continue to support the film sector through the Irish Film Board tax credits such as section 481 and other measures.

Enterprise Ireland negotiated the sale of its shareholding with the benefit of due diligence, undertaken by independent consultants, and is satisfied that it realised full market value on a par with other parties. As the sale is a commercial transaction relating to a private company, the terms cannot be revealed for reasons of business confidentiality. Enterprise Ireland does not involve itself in the day-to-day running of the business affairs of the companies in which it invests. This is a positive move for Ardmore and I would like to reassure the Deputies of that.

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