Paudie Coffey (Waterford, Fine Gael)
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Question 263: To ask the Minister for Jobs, Enterprise and Innovation in addition to the recent jobs initiative the plans he has in place to help tackle the south east region's high unemployment rate; and if he will make a statement on the matter. [15831/11]

Richard Bruton (Dublin North Central, Fine Gael)
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Job creation is central to our economic recovery and the Programme for Government has job creation at its core. The role of my Department is to ensure that we have the right policies in place that will support and grow our enterprise base in order to facilitate both job creation and job retention.

The Jobs Initiative includes measures designed to increase access to credit for viable SMEs through the introduction of a temporary partial loan guarantee scheme, as well as the development of a Microfinance Fund; lowering costs for employers by halving employers PRSI for jobs paying up to €356 per week; and providing a much needed boost for tourism and retail through the abolition of the travel tax and the reduction in targeted VAT from 13.5% to 9%. These measures will stimulate the business environment across all Regions, including the South-East.

In relation to the State Development agencies under the aegis of my Department - Enterprise Ireland, IDA Ireland, and the County and City Enterprise Boards (CEBs) are continuing to drive and promote enterprise development, and consequently employment creation in the South East Region. According to the latest figures available, there are more than 32,000 people employed in agency-assisted companies in the South East Region and almost 6,500 in companies supported by the CEBs operating in the Region.

In terms of facilitating job creation, Enterprise Ireland activity is focused on the creation of new jobs through supporting entrepreneurs setting up new High Potential Start-Up Companies, the retention and creation of new jobs in existing companies and enhancing Ireland's innovation capability at a national and regional level through support of research in companies and Third Level institutions. So far this year, the agency has paid out almost €4.2m in support for companies, entrepreneurs and Third Level institutes in the South East Region.

Attracting investment and employment opportunities to the South East is a high priority for IDA Ireland. The agency is continuing to vigorously promote the region to potential new investors and there has been an increased level of interest expressed in the South East Region this year from potential investors. One announcement for the South East Region this year will create 50 new jobs in Waterford. Also, jobs announced for the Region over the past couple of years continue to come on stream. As well as marketing the region for new Greenfield investment, IDA continues to work with existing clients to broaden their mandate in Ireland and to continue to re-invest in their sites within the Region. While we are operating in a very difficult economic environment, there are still investment opportunities in global markets.

During 2010, the CEBs, operating in the South East Region paid almost €1.8m in grant assistance to 196 clients. This year, the CEBs in the South East Region have continued to support enterprise development through the provision of direct financial assistance and indirect assistance, such as management development, capability support and the development and delivery of activities to highlight and promote enterprise.