Peter Burke (Longford-Westmeath, Fine Gael)

I thank Deputy Fleming for his question on the midlands region. Regional development is a key focus in the programme for Government and is central to the work of my Department and its agencies. In that regard, IDA Ireland has reaffirmed its strong commitment to regional development as a core pillar of its 2025 to 2029 strategy, which we launched a number of months ago. This ambitious strategy aims to secure 550 foreign direct investment projects in rural and regional areas, accounting for 55% of all planned investments. The overarching goal is to create 75,000 new jobs nationwide and generate a projected €250 billion in economic impact. IDA Ireland is targeting 40 client investments to the midlands region over the lifetime of the strategy.

Last year saw the conclusion of IDA Ireland’s 2021 to 2024 strategy, Driving Recovery and Sustainable Growth. Over the course of the strategy, IDA Ireland supported the delivery of 973 investments and creation of 76,790 jobs, or 121% and 153% of the respective targets. Some 54% of all investments were in regional locations outside Dublin. The investment target for the midlands over the period 2021 to 2024 was 25 investments and the total number of investments won for the region was 31. IDA’s goal for the coming years is to build on the strengths and competencies of the region, with a particular focus on high-value manufacturing, services, and research and innovation opportunities across established clusters in life sciences, technology and global business services. Emerging technology trends will continue to create new opportunities for the region in areas such as data analytics, smart manufacturing, cybersecurity and new approaches to working, such as co-working hubs.

As the Deputy will be aware, IDA Ireland’s strategy focuses on partnering with enterprises in the existing FDI base to retain and renew their Irish operations, alongside attracting new investment. The agency provides ongoing support to existing clients through investment in research and development and it will be very important in the upcoming budget to get the research and development value proposition correct. IDA Ireland also provides support for upskilling, talent development, digitalisation and sustainability in the FDI sector.

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