Written answers

Wednesday, 13 October 2010

Department of Enterprise, Trade and Innovation

Company Closures

9:00 pm

Photo of David StantonDavid Stanton (Cork East, Fine Gael)
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Question 105: To ask the Minister for Enterprise, Trade and Innovation if his attention has been drawn to the closure of a factory (details supplied) in Youghal, County Cork; if his further attention has been drawn to the need to provide employment in Youghal; and if he will make a statement on the matter. [36428/10]

Photo of Batt O'KeeffeBatt O'Keeffe (Cork North West, Fianna Fail)
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On the 5th November, 2009, Tytex, a Danish owned company, announced its decision to workers to close its operation in Youghal, Co Cork with the loss of 75 jobs. Following the announcement, FÁS contacted the company and has since been heavily engaged in providing its full range of services to the workers being made redundant. This has included 11 days on-site by FÁS and one-to-one interviews with employees. In 2009, foreign direct investment decreased globally by 30% and the average scale of investment was smaller than in previous years. Despite these trends, since 2009 IDA has announced 9 projects for Cork with a job potential of approximately 1,070.

IDA Ireland is actively promoting the greater East Cork region (which includes Cobh, Little Island, Carrigtwohill, Midleton and Youghal) to prospective investors across the full range of IDA targeted sectors, such as Pharmaceuticals, Medical Technologies, Information and Communications Technologies (ICT), Clean Technologies and Global Business Services via its network of overseas offices and project divisions.

While the town of Youghal has experienced a significant loss of employment in recent years, employment in overseas companies in the East Cork area has grown significantly. Cork has been particularly successful in attracting foreign direct investment (FDI) over the years. Over the past 10 years, direct employment in IDA supported companies in Cork City and County has grown from just under 16,000 in 1999 to 20,000 now. In addition, since 2008, Enterprise Ireland (EI) has approved €50M approximately to client companies in the Cork area. EI has a client base of over 700 companies in Co Cork employing about 18,000 people.

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