James Bannon (Longford-Westmeath, Fine Gael)
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Question 275: To ask the Minister for Enterprise, Trade and Employment the measures he is taking in view of the recent job losses in the midlands to encourage initiative and innovation in attracting investment to bring about a vibrant economy; and if he will make a statement on the matter. [16366/08]

Micheál Martin (Cork South Central, Fianna Fail)
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In regard to the Midlands Region, IDA Ireland is working to develop the knowledge economy in order that it can compete both nationally and internationally for foreign direct investment. Over the past 5 years the Agency has been promoting the Midlands as part of an integrated Midlands Region with access to a population base of 310,127. The Midlands has traditionally been a centre of manufacturing for foreign direct investment, but, as in other areas, they have seen a number of closures within the multinational sector as global investment shifts to lower cost destinations.

In order to respond to this situation, as part of the transition and re-positioning of the Region to a more knowledge based economy, IDA is marketing the Midlands Gateways of Athlone, Tullamore and Mullingar as key locations for investment in Medical Technologies, International Financial Services and ICT — in line with IDA policy and with the National Spatial Strategy. Some progress is evident with companies like Kinetic Concepts, Teleflex Medical, Georgia Tech Research Institute, AXA Assistance, Elan Corporation, Cameron Ireland Ltd, Integra Lifescience and Alienware Corporation establishing or expanding their operations.

The Government is investing in the physical infrastructure required to attract today's FDI to the Midlands. This includes investing €3.5m in a quality flagship Business Park in Athlone, which is now an integral part of the agency's international marketing programme. The IDA has also purchased 70 acres of land at Ardmore, Mullingar. The site has been master planned and phase I construction is complete. Enterprise Ireland also has a number of programmes in place to assist indigenous companies in the Region to grow and export. The Agency has invested heavily in the Athlone Institute of Technology, which is a key piece of infrastructure for the attraction and development of enterprise.

In February, I announced a €50m boost to regional economic development. Athlone IT is set to benefit directly from this investment, which will support enterprise- focused activity in the Midlands in three ways:

Funding the purchase of industry-relevant research equipment

Providing more incubation space for start-up companies, and

Establishing additional market-focused research groups.

I am confident that the strategies and policies being pursued by the State Development agencies will continue to support enterprise development and job creation in the area. I want to reaffirm that the State agencies will continue to work closely with each other and with local interests, pursuing an integrated approach to investment and enterprise development in the Midlands.