Hildegarde Naughton (Fine Gael) | Oireachtas source

I welcome the Minister and thank him for addressing this important issue.

The most recent figures available from the Department of Jobs, Enterprise and Innovation indicate that IDA Ireland has not achieved its 50% investment target in areas outside Dublin and Cork. In fact, investments outside these two areas in the period 2010 to 2013 accounted for only 35% of all foreign direct investment announcements. The IDA Ireland strategy for the period 2010 to 2014, Horizon 2020, set a regional economic development target of 50% of investments in regions outside Dublin and Cork. In fact, this figure was vastly undershot. Only 35% of all investments in the three year period to 2013 were in areas outside Dublin and Cork. The actual monetary amounts in grant aid reveal the disparity in starker detail. In the three years to the end of 2012 IDA Ireland made grant payments to its client companies in Dublin totalling €111,620,999, with companies in Cork receiving €49,520,980, while companies in Galway lagged well behind, receiving €35,808,683. Companies in Limerick received even less.

I understand that under an Action Plan for Jobs 2014 IDA Ireland and Enterprise Ireland are working with the Department of Jobs, Enterprise and Innovation to develop a framework for a regional enterprise strategy to better integrate the work of the various state agencies involved, in conjunction with an analysis by Forfás of the foreign direct investment strategy. What is the position on the development of these projects? Rather than simply taking pot shots, we should be honest: by and large, technology workers wish to locate in cosmopolitan areas. Our manufacturing base is changing and it is increasingly difficult to attract jobs in what was the traditional industrial production sector, into which China, India and the East are fast expanding. The days when the local Deputy was able to organise a factory to open in the local town or village are long gone and anyone who suggests otherwise is merely playing politics. The new areas of excellence are due to our young workforce being able to compete in knowledge terms in the areas of research, finance, technology and related services.

While I acknowledge the attractions of Dublin and Cork as locations for investment, other areas have a considerable amount to offer. Dublin and Cork are not the only areas in Ireland which offer cosmopolitan living.

The recent sod turning for the remaining motorway between Galway and Gort will bring a major international airport within an hour's drive of Galway and also make the commute between Galway and Limerick very easy. We also have Knock international airport on the doorstep, as well as a first class motorway to Dublin from both Galway and Limerick. Galway is a hub for the medical devices industry, with Ireland fast becoming increasingly recognised as a major player in that sector. Galway is also well known for its cultural attractions and many festivals.

While I welcome IDA Ireland resuming building in regional locations, particularly the recent announcements of the construction of advanced technology buildings in the midlands and the south east, are there plans for similar developments along the western seaboard? There is an enormous imbalance in the current system and a need for much greater concentration on regional development in the foreign direct investment strategy.