Written answers

Tuesday, 28 March 2006

Department of Enterprise, Trade and Employment

Foreign Direct Investment

11:00 pm

Paddy McHugh (Galway East, Independent)
Link to this: Individually | In context

Question 274: To ask the Minister for Enterprise, Trade and Employment the number of visits to a town (details supplied) in County Galway arranged by the IDA for potential foreign direct investors, industrial developers or potential locating multinationals in each year since 2000; the level of priority for investment purposes given to the town by comparison with other towns in Galway; and if he will make a statement on the matter. [11959/06]

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

IDA Ireland is the agency with statutory responsibility for the attraction of foreign direct investment to Ireland and its regions. The marketing of individual areas, including Tuam, for new or expansion FDI investments and jobs is a day-to-day operational matter for the agency. While I may give general policy directives to the agency, I am precluded under the Acts from giving directives regarding individual undertakings or from giving preference to one area over others. I have been informed by IDA Ireland that in the period 2000 to 2005 there have been a total of 12 site visits to Tuam, three visits in 2001; two visits in each of the years 2000, 2002, 2003, and 2004; and one visit in 2005.

A central goal for IDA Ireland is the achievement of balanced regional development. The national spatial strategy provides a framework for the achievement of this goal through the prioritisation of development and investment in the gateway and hub locations. On this basis, IDA Ireland seeks to attract foreign direct investment into the western region via the Galway gateway, the hub towns of Tuam and Ballina-Castlebar, and the towns of Westport and Ballinasloe. IDA Ireland's sectoral emphasis is on attracting new knowledge intensive projects in medical technologies, life sciences, information communications and technology and international services.

IDA Ireland is committed to securing knowledge based, value added, FDI for Tuam and is actively marketing the town to potential investors. To this end the agency has invested upwards of €3.5 million on the acquisition of land and the development of a new business and technology park on the Dunmore Road in Tuam. In addition, the agency is actively working with its existing base of overseas companies in the county and the Tuam area to encourage them to grow and expand. Furthermore, the agency is working with local groups, utility providers and other agencies to ensure that the county secures the appropriate infrastructure to enable the existing companies grow and develop and to make the area sufficiently attractive for new projects.

Despite increasing competition, Galway county continues to be very successful in winning foreign direct investment. There are now almost 10,000 permanent jobs in IDA supported companies in the county. I am confident the strategies and policies pursued by IDA Ireland in Tuam and in County Galway in general, together with the ongoing commitment by Government to regional development, will continue to bear fruit in terms of overseas investment and jobs for the people of Tuam and the county of Galway as a whole.

Comments

No comments

Log in or join to post a public comment.