John Perry (Sligo-Leitrim, Fine Gael)
Link to this: Individually | In context

Question 267: To ask the Minister for Enterprise, Trade and Employment if his attention has been drawn to the fact that an enterprise (details supplied) in County Sligo has embarked on phase two of its enterprise development; if he will contact the officials in order that a decision will made on the issues outlined in the enclosed; and if he will make a statement on the matter. [17934/05]

Micheál Martin (Cork South Central, Fianna Fail)
Link to this: Individually | In context

The management of IDA Ireland's industrial property portfolio is a day-to-day operational matter for the agency as part of the statutory responsibility assigned to it by the Oireachtas for the attraction of foreign direct investment to the State and its regions. While I may give general policy directives to IDA Ireland, I am precluded under the Acts from giving directives regarding individual undertakings.

All IDA Ireland lands are sold on the basis of commercial valuation in line with public sector guidelines and subject to IDA board approval. I am informed by IDA Ireland that it will be in a position to appoint a valuer once Collooney enterprise board has reverted to it with a clear intention that it wishes to purchase the site in question. These facts have been conveyed by IDA Ireland to the enterprise board.

Valuations are conducted on the basis of current market conditions appropriate to the relevant title being transferred. It would not be appropriate for me to attempt to pre-empt the outcome of an independent open market valuation in this case.