Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

Hopefully not for another few years, but Deputy Naughten will be a loss to politics and the House. He and I share a commitment to balanced regional enterprise growth, which is a key objective of the Government and a key component of the recently published White Paper on Enterprise, to which the Minister referred.

Recognising the significant challenge that businesses continue to face, and to protect employment across the country, the Government has put in place significant measures to help businesses in the current economic climate. All of these will favour businesses in regional towns - the temporary reduction in VAT on gas and electricity, the extension of the temporary reduction in VAT on tourism and hospitality, and the reform of the temporary business energy support scheme, TBESS.

The Department's enterprise agencies are focused on regional development, including the development of our regional towns. In 2022, the IDA secured 127 out of 242 investments in the regions. In 2022, €13 billion was invested in the Irish economy by IDA client companies in the regions across payroll, materials and services. Much of that was spent in regional towns, including in the Deputy's county. Enterprise Ireland has targeted 45,000 new jobs by 2024 and we have expanded the role of the local enterprise office, LEO, network.

Through the regional enterprise programmes, €126 million is being invested in 79 regional projects in the coming years. In Sligo, for example, the programme is funding the creation of a new gaming academy in Strandhill and a new advanced manufacturing centre in the middle of Sligo town, both of which will add considerably to Sligo’s reputation and enhance its ability to attract investment. One of those projects is a town centre development.

In my supplemental reply, I will go through Government initiatives, such as the town centre first programme, from other Departments.

See this speech in context