Mary Coughlan (Donegal South West, Fianna Fail)
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The management of IDA Ireland's industrial property portfolio is a day-to-day operational matter for the Agency, as part of the statutory responsibility assigned to it by the Oireachtas, and not one in which I have a function. In order to cater for the specialised high utility intensive needs of the Biotechnology and ICT sectors, IDA Ireland is in the process of developing a number of largescale, fully-serviced industrial sites throughout the country. In this connection and as part of IDA's plans to enable the West of Ireland to compete for global investment, IDA purchased a site of 97ha (240 acres), located approximately 1km to the south west of Athenry, which was previously owned by Teagasc. The purchase was completed in December 2007, but for reasons of commercial sensitivity the purchase price of this land is not disclosed.

IDA is currently progressing with the delivery of infrastructure and services to the site. I am informed by the Agency that Phase I of these works commenced in September 2009, and is scheduled for completion in the Spring of 2010. Phase 2 is currently at design stage and will be put out to tender in 2010. IDA is also working with Galway County and City Councils regarding water and waste water capacity. The remaining infrastructural services are scheduled for completion over the next three to four years. It is not possible to outline at this stage details of costs for completed and projected works. However, I can assure the Deputy that my Department is informed regularly, in line with normal reporting procedures, of expenditure by IDA on property related activities.

I am informed by the Agency that this site will be marketed for new Research Development & Innovation investments in the Bio-Pharma and related industry sectors. Expenditure by IDA on its property function is largely self-financing. The Agency's costs in acquiring and developing sites are met through the sale of existing properties or recovered when the developed site is sold on to an individual project promoter. Indeed in 2008 and 2009, IDA received slightly in excess of €3m. per year of exchequer funding towards its industrial property function.