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

I thank everyone for their engagement, comments and observations on the Bill. I look forward to working positively with Senators as the Bill moves through the House. I will respond to some of the issues that were raised.

Senator Davitt mentioned the IDA park in Mullingar. I do not have the information but I will provide him with an update on it. One of the first events I attended when I was appointed Minister was at the new advanced manufacturing plant there in Mullingar, which is a wonderful facility. It is an example of what can happen when universities, agencies and local businesses come together. It was an old cigarette factory. What is being done in that plant is wonderful. I have used it as an example that could be replicated in other areas of the country.

Senator Mac Lochlainn raised the issue of IDA investment. The IDA is very much focused on regional development, as is the Government. It is one of my key priorities. Coming from a rural constituency, I understand the need for regional development and to ensure every part of the country is supported. I am particularly aware of the issues along the Border. For that reason, I brought in the CEOs of the Border counties. I met them all and I spoke to them in the presence of IDA and Enterprise Ireland officials. I asked them to come up with ideas on how they can work more collaboratively to put forward proposals, particularly relating to the regional enterprise development fund which is being rolled out through Enterprise Ireland. It is a €60 million fund and €30 million of it has been allocated. We just closed for applications for the remaining €30 million. I talked to them about how they could identify opportunities within the regions and work collaboratively with other counties, business and agencies to put forward proposals that would draw down funding to help them improve the offering they have in the Border region to allow people access to facilities but also to support businesses there. It is something I am very conscious of. Numerous additional jobs created by IDA-supported companies are generated by existing companies. That has been the case with Pramerica and Optimum. They are both successful companies and they continue to work closely with the IDA.

We are very fortunate to have the IDA. I have been on a number of trade missions. The IDA is a professional body, which operates in a highly competitive global market. It is out there competing with other countries. I was with IDA officials when they were speaking to a company that was making a decision about whether to move to Ireland, a European country or an Asian country. That is the level of competition. When the IDA is pitching and outlining why a company should come to Ireland, it says the regions are an attractive option but ultimately it is the company's decision. We are glad to have them here and they contribute hugely to our economy so at the end of the day the company will finally make the decision on that. Nevertheless, I assure the Senator the IDA is doing everything it can to promote regional investment. On the specific issue he raised regarding the buy-back provision in the Bill, I have considered the issue but it is not a matter for this legislation on the basis that such a situation is not expected to arise. It is only intended that a compulsory purchase will be used as a last resort and an exceptional measure once all other viable options have been exhausted. The Bill also makes it explicit that even in the unlikely event of a compulsory purchase in the future, the land cannot be sold by the IDA to an investor and can only be leased to a company, so it will always remain in the ownership of the authority.I hope I have addressed all the issues, and I look forward to the support of Members.