Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 99: To ask the Minister for Enterprise, Trade and Innovation the strategy being undertaken by him in conjunction with the Industrial Development Agency to secure 50% of investment outside Dublin and Cork in view of the fact that in 2010 that target fell short with 37% of all investments outside Dublin and Cork; the strategy that is being pursued by him to retain employment in IDA supported companies given that while 11,000 jobs were created in IDA supported companies in 2010, 9,500 were lost; and if he will make a statement on the matter. [2642/11]

Batt O'Keeffe (Cork North West, Fianna Fail)
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One of the high level goals in the IDA's strategy document "Horizon 2020 " is a commitment that, by 2014, 50% of all FDI investments will be located outside of Dublin and Cork. Foreign Direct Investment (FDI) in Ireland increased significantly in 2010, despite global economic uncertainty. IDA has continued to increase the number of companies investing in Ireland for the first time while encouraging existing operations to expand and diversify their operations here.

Despite the turbulent global economy in which, according to the OECD, foreign direct investment declined by 8% and with increased competition for FDI, IDA secured 126 investments in 2010 with IDA client companies creating almost 11,000 new jobs during the year. During 2010, it was encouraging to see that, 45% of the jobs approved were locating outside of Dublin and Cork in key regional locations, such as Dundalk, Letterkenny, Tullamore, Ballina, Tralee, Waterford.

The global outlook for FDI in 2011 remains challenging but a continuing focus on improving competitiveness will place Ireland in a favourable position to win further significant FDI and contribute strongly to Ireland's export led economic recovery. Significant FDI successes in 2010 have built a strong momentum for investment which will be carried through in 2011. Many investments secured last year will be recruiting this year, feeding further employment-growth. IDA's focus will continue to be on high end manufacturing, global services and RD&I across a wide range of sectors. In particular ICT, Digital Media, International Financial Services, Internationally Traded Services, Life sciences and Cleantech are poised for further growth. The level of confidence demonstrated by overseas investors in Ireland ensures we will remain one of the leading locations in the world for foreign direct investment.

Question No. 100 answered with Question No. 78.

Question No. 101 answered with Question No. 89.