Deirdre Clune (Cork South Central, Fine Gael)
Link to this: Individually | In context

Question 98: To ask the Minister for Enterprise, Trade and Employment his plans to attract investment into the Cork region; and if he will make a statement on the matter. [25431/07]

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

State support for enterprise and job creation is channelled through the industrial development agencies. While I may give general policy directives to the development agencies, I am precluded, under the Industrial Development Acts, from giving directives regarding industrial undertakings or from giving preference to one area over others.

Through its range of overseas offices, IDA Ireland is actively promoting Cork City and County to prospective investors across the full range of IDA targeted sectors, such as Pharmaceuticals, Medical Technologies, Information and Communications Technologies (ICT) and Internationally Traded Services. In 1997, there were 107 IDA companies employing 11,903 people,in 2006 there were 133 companies employing 19,977.

Recent announcements include companies such as Amazon, Blizzard, Netgear, Apex Funds, Citco. These are companies with significant investments who have announced expansions also, such as Pfizer, Eli Lilly and GSK.

In line with the National Spatial Strategy, IDA is concentrating on the gateway city of Cork and the hub location of Mallow. The Agency actively promotes other towns in the County such as Fermoy, Clonakilty and Youghal. The attractions of the region include a young skilled population, the presence of a University and Institute of Technology with a student population of approximately 30,000 and the availability of first class business parks, good infrastructure and an international airport. The success of IDA's marketing strategy for the region is evident in the results which the Agency has achieved over the years.

At present, there are currently 133 IDA assisted companies in County Cork employing almost 20,000 people. A total of nine Foreign Direct Investment (FDI) projects have been announced for Cork City and County since the start of 2007, with an estimated 1000 jobs to be created at full operation. In the last 3 years over 3,100 jobs have been announced by companies that have announced their arrival or expansion in Cork City/County — Netgear, Amazon, Eli Lilly, Pfizer, Citoc and Blizzard.

In terms of job creation, Enterprise Ireland activity is focussed on the creation of new jobs through supporting entrepreneurs setting up new High Potential Start-Up Companies, the retention and creation of new jobs in existing companies and in enhancing the innovation capability of Ireland at a national and regional level through support of research in companies and third level institutions.

The Agency's activities are aimed at assisting its client companies to compete and grow by working in partnership to develop their key capabilities in internationalisation and export growth. Enterprise Ireland also supports the third level colleges in the Regions to foster links with industry thereby encouraging industry to increase its use of technology.

Enterprise Ireland's success in this area has been demonstrated by recent announcements of investment/expansion plans in such companies as Eirebloc, Dairygold, Carbery Milk Products, Safeheaven and Epic Solutions. To date in 2007, Enterprise Ireland has approved almost €50m and made payments to client companies of €5.4m in County Cork.

I am confident that the co-operation between the state agencies, educational establishments and local authorities together with the roll out of the National development Plan will continue to bear fruit in terms of investment and employment for the people of Cork.