Hildegarde Naughton (Galway West, Fine Gael)

I thank Senator Gallagher for raising this issue. I am here on behalf of the Minister for Enterprise, Trade and Employment, Deputy Peter Burke. Regional development is a key element of this Government's enterprise policy, as set out in the programme for Government and the White Paper on enterprise. It is a key focus of the work of the Department and its agencies.Accordingly, regional development is also a priority for the IDA. In that regard, the IDA published its new strategy, Adapt Intelligently: A Strategy for Sustainable Growth and Innovation 2025-29, in February of this year. That strategy aims to attract 1,000 investments over the five years of its currency, with 550 specifically targeted for regional locations outside Dublin. This ambitious target reflects IDA Ireland’s ongoing commitment to support transformation and growth in the regions and was a key metric for the Minister for enterprise, tourism and employment when recommending the strategy to Government.

Currently, IDA Ireland client companies directly employ more than 160,000 people in regional locations across our country, or 55% of total client employment. There are seven IDA-supported companies in Monaghan, employing 258 people out of a total of 31,000 employed across the country. The IDA’s regional property programme ensures the supply of land, buildings and infrastructure in regional locations as required by current and prospective clients of both the IDA and Enterprise Ireland. The programme aims to address market failure by having advanced sites available for prospective investors, although investors themselves take that ultimate decision on where to locate. For both the Department and the IDA, it is crucial that the Border region has a competitive, sustainable property offering to enable the attraction and retention of investment and jobs and the regional property programme seeks to support that objective.

As part of the IDA’s marketing efforts, the IDA emphasises the significant strengths that Monaghan and the Border region have to offer potential investors. A key feature of this offering is the IDA’s new 16,000 sq. ft advanced building solution, ABS, in IDA Monaghan business and technology park, Knockaconny, County Monaghan.

As the Senator will be aware, it is a well-established part of our enterprise policy that the availability of property and infrastructure solutions can be a key differentiator in investment decisions made by companies. In that regard, the provision of property solutions continues to be a key element of the IDA’s marketing of the Border region and the IDA is currently actively and positively engaged with an Enterprise Ireland company in respect of a proposed letting of the Monaghan ABS building. However, the engagement remains subject to contract so I must respect the commercial sensitivities which are at play at present.