Jim O'Keeffe (Cork South West, Fine Gael)
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Question 113: To ask the Minister for Enterprise, Trade and Innovation the amount of foreign direct investment into Ireland in the past four years; the estimated figure for 2010 and the steps that can be taken to encourage further such investment [36317/10]

Batt O'Keeffe (Cork North West, Fianna Fail)
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In the four year period 2006 to 2009 inclusive, there have been a total number of 494 foreign direct investment projects won by IDA Ireland. The attached tabular statement shows the number of projects won in each of those years.

One of the high level targets set out in IDA's strategy "Horizon 2020"is that 640 investments will be won in the period 2010 to 2014. Ireland continues to attract foreign direct investment (FDI) from many of the world's leading companies and, to date 2010 has been promising. There have been 63 announcements in relation to new and expansion investments, with the potential to create over 4,600 jobs. Of course, some projects go ahead without any announcement.

As the investment Agency charged with the attraction of foreign direct investment to Ireland, IDA executives are in constant discussion with potential investors throughout the world. In addition, as Minister, I regularly meet with and have discussions with potential foreign investors both here in Ireland and abroad on promotional visits arranged by IDA. These discussions work towards the creation of a pipeline of new business.

Table showing the number of foreign investments won in each of the years 2006 to 2009 inclusive.

Denis Naughten (Roscommon-South Leitrim, Fine Gael)
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Question 114: To ask the Minister for Enterprise, Trade and Innovation the steps he will take to streamline the control of development lands held by State agencies and public bodies; and if he will make a statement on the matter. [36397/10]

Batt O'Keeffe (Cork North West, Fianna Fail)
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It is evident from international research that providing suitable property solutions for sale or rent to newly-establishing industrial projects is often a key element in the attraction and facilitation of such projects. In Ireland it has since the late 1950s been an integral part of industrial policy that the State, through the industrial development agencies, will have available land that is suitable, zoned and serviced for industrial purposes, so as to ensure that industrial projects will not be prevented or delayed in setting up operations. When land or buildings are sold or leased to industries the assets are transferred at market prices.

The industrial property scheme is operated by Shannon Development in the Mid West region and part of Offaly, and in the rest of the country by IDA. IDA and Shannon Development provide land and buildings both for their own client companies and for Enterprise Ireland client companies. Shannon's property holdings have a somewhat broader sectoral coverage than IDA's, reflecting the fact that Shannon's remit extends to matters such as regional development, tourism and energy.

Income from property sales is usually retained by the agencies and re-invested in property development activities focused on promoting industrial jobs and exports. The property function exercised by both IDA and Shannon is largely a self-financing operation, although the State has on occasion contributed investment funding. For example, as part of the National Spatial Strategy focus on Gateway development, IDA acquired 'large scale sites' in the Gateways and some Exchequer funding was provided for that purpose. The Shannon Development property operation, in addition to meeting the 'self-financing' criterion, also covers the pay and non-pay current costs of running the agency, as Shannon Development has operated a self-financing model since the 1990's.

I am satisfied that there is a justified rationale for the existence of a property programme within the Agencies, and that it operates in a streamlined fashion. The McCarthy Review Group on State Assets and Liabilities is at present reviewing all State assets and liabilities and the Group's conclusions will be considered by Government in due course.