Pat Breen (Clare, Fine Gael)
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Question 280: To ask the Minister for Enterprise, Trade and Employment if he will meet a small delegation as a matter of urgency to discuss the future of Shannon Development and the distribution of its assets; and if he will make a statement on the matter. [13083/05]

Micheál Martin (Cork South Central, Fianna Fail)
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Several recent developments will impact on the future role of Shannon Development, the most significant of which are: the proposed relocation of the headquarters of Enterprise Ireland to Shannon as part of the decentralisation programme; the enterprise strategy group recommendation that Shannon Development should disengage from industrial development functions; and the establishment of an independent Shannon Airport Authority.

The new airport authority was incorporated in October 2004. Shannon Development fully supports the decision to establish an independent airport authority which is vital to the economic development of the region. The company has also further agreed on the need to re-focus its activities on the airport with a view to generating business for the airport and that the company's assets should be used to support the airport authority particularly in its early, vulnerable years.

In the light of these developments, the Shannon Development board was asked to devise a new strategy for the company. The board recently submitted a detailed strategy document outlining its vision of the future role of the company and my Department is engaged in a detailed examination of these proposals. The results of this examination will be submitted to me as soon as possible, following which I will engage in any necessary consultations with Shannon Development, my Government colleagues affected by the proposals, together with other interested parties in the region.