Arthur Morgan (Louth, Sinn Fein)
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Question 403: To ask the Minister for Enterprise, Trade and Employment the number of visiting itineraries for commercial or industrial projects that occurred due to recent initiatives by IDA or other State agencies within his remit that visited County Louth locations; the results to date of such visits; and if he will make a statement on the matter. [7627/07]

Micheál Martin (Cork South Central, Fianna Fail)
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IDA Ireland is the agency with statutory responsibility for the attraction of foreign direct investment (FDI) to Ireland and its regions. The marketing of individual areas 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 Industrial Development Acts from giving directives regarding individual undertakings or from giving preference to one area over others.

During 2006 IDA hosted forty-six first time site visits by potential investors to County Louth. Already two companies have established operations in the area and IDA Ireland is engaged in ongoing negotiations with a number of others. Ultimately, it is the investor who decides where to locate.

In addition, during 2006 four major companies — Bank of Scotland Ireland, Vesta, Pillar Data Systems and Daiwa Securities announced their intention to establish operations in County Louth with the potential to create 1,150 jobs between them. A number of these jobs have already come on stream.

IDA continues to market County Louth through its network of overseas offices and to work with its existing client base to expand their presence in the County.

To date, IDA Ireland has spent in excess of €10 million in upgrading Finnabair Park and the Drogheda Business Park. In addition, the agency is investing a further €10m in bringing services (access road from M1, storm water drainage, foul sewer, water connection etc.) to its new site in Millagharlin, south of Dundalk. This site, which comprises of approximately 61 hectares will be marketed as a major Biopharma facility.