Seán Sherlock (Cork East, Labour)
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Question 32: To ask the Minister for Enterprise, Trade and Employment if the €4 million in grants paid by the Industrial Development Authority to a company (details supplied) has been repaid in view of the failure of the planned project at Ballincollig to proceed; and if he will make a statement on the matter. [4060/08]

Micheál Martin (Cork South Central, Fianna Fail)
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The legally binding agreements covering the payment of industrial grants by IDA to its client companies provide, among other things, that companies are obliged to repay grants in their entirety in the event of the project not proceeding. I am satisfied that the company concerned is fully aware if its obligation to repay the grant in its entirety.

Where a contractual entitlement to recover a grant arises, it is entirely a matter for the agency that is party to the contract to effect the recovery. I understand that the IDA has not yet sought recovery of the monies in this case. IDA Ireland continues to maintain contact with Amgen as the company works through its restructuring phase.

While I am very disappointed at the Amgen decision to postpone their proposed development at the Carrigtwohill, it must be noted that the Cork Gateway is still vibrant in what it can offer potential investors, particularly in sectors such as pharmaceuticals, medical technologies and internationally traded services.

There are currently 133 IDA assisted companies in County Cork employing almost 20,000 people. Cork City and County have benefited greatly from a number of important investment announcements in recent years which demonstrates the attractiveness of the greater Cork area as a location for investment, by both existing companies already located there as well as new overseas client companies choosing Cork as their location of choice. IDA Ireland has, over the last 3 years, approved new projects for the Cork area with a job potential of over 3,100 people at full operation.

I am confident that the policies being pursued for Cork City and County by the development agencies will continue pay dividends in terms of investment and jobs for the region.