Brendan Smith (Cavan-Monaghan, Fianna Fail)
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177. To ask the Minister for Jobs, Enterprise and Innovation the special initiatives that will be undertaken by his Department or the State's industrial promotion agencies, to assist in the provision of much-needed employment throughout County Cavan; and if he will make a statement on the matter. [48980/14]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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178. To ask the Minister for Jobs, Enterprise and Innovation the special initiatives that will be undertaken by his Department or the State's industrial promotion agencies to assist in the provision of much-needed employment throughout County Monaghan; and if he will make a statement on the matter. [48981/14]

Richard Bruton (Dublin North Central, Fine Gael)
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I propose to take Questions Nos. 177 and 178 together.

My Department and its agencies are working together to address the unemployment problem that is currently experienced in counties Cavan and Monaghan by implementing the Government’s Action Plan for Jobs which aims to create 100,000 net new jobs over the period 2012 to 2016.

Monaghan and Cavan are part of IDA Ireland’s North East Region along with county Louth. In the region as a whole, there are currently 36 IDA Ireland client companies employing almost 4,000 people. The main FDI clusters which have emerged in the North East Region are in international business services, mainly Financial Services, and consumer goods and manufacturing. While IDA Ireland always seeks to influence the client decisions on where to visit or where to locate, the final decision in all cases is made by the investor.

At the end of 2013 there were 7 IDA Ireland supported companies in Cavan employing 1,135 people with 6 IDA Ireland supported companies in Monaghan employing 365 people. IDA Ireland has formed strong relationships with these companies and, having regard to the fact that 70% approximately of all FDI investments won by IDA Ireland is from the existing client base, the agency continues to work closely with them in order to ensure their long term sustainability and to encourage their growth, development and continuing re-investment in their sites. IDA Ireland works closely with third level educational institutions in the region so that the skill-sets necessary to attract high value added employment to the Region are being developed.

Enterprise Ireland works with and supports local entrepreneurs with commercial business plans and also provides preferential funding for entrepreneurs and companies, with detailed export plans, who are expanding or establishing a business in the County as part of the BMW Region.

Payments of over €1.8 million were made to companies in Cavan in 2013. Similarly, payments of over €2.2 million were made to companies in Monaghan in 2013.

Enterprise Ireland works with both Cavan and Monaghan Local Enterprise Offices in enhancing economic development within the County.

Ireland’s Best Young Entrepreneur (IBYE) is an initiative of my Department and a component of the Action Plan for Jobs. The competition was conducted by all 31 LEO’s around the country and attracted over 1,100 entries between the ages of 18-30 in 3 different categories – Best New Idea, Best Start-Up and Best Established Business. IBYE has a €2million prize fund - €25,000 investment for 31 county level winners. This was reduced to 24 national level finalists competing for an extra €50,000 investment for 1 national winner who was crowned “Ireland’s Best Young Entrepreneur” on 7 December 2014.Following an initial assessment, most of the applicants were invited to take part in a County Bootcamp, where they received advice and mentoring on all aspects of starting and growing a business, as well as the opportunity to share ideas and experience with their peers.

The Ireland’s Best Young entrepreneur (IBYE) competition within Cavan and Monaghan, which was run by each LEO, received a very healthy 23 and 26 entries respectively, reflecting a significant entrepreneurial base within the two Counties. Following an initial assessment, most of the applicants in each County were invited to take part in their County Bootcamps, where they received advice and mentoring on all aspects of starting and growing a business, as well as the opportunity to share ideas and experience with their peers.

The winners in the three categories from each County received further Bootcamp training and guidance as they went forward to compete in the Regional Final of the competition against entrants from the LEOs in Counties Meath and Louth. The winner of the County Monaghan Best Start-up category and the winner of the County Cavan Best New Idea category both won the Regional Final in those categories and competed against 7 other finalists in their category at the National Finals.

Innovation Vouchers give small companies access to the vast knowledge available in Irish Institutes of Technology, Universities and other public research bodies. These vouchers worth €5,000 can be used by the average small Irish company to bring in knowledge that is new to the company.

I have been working with my Department on the development of a framework for the formulation of Regional Enterprise Strategies that will enable us to identify the sustainable competitive strengths of each region and to better integrate the efforts of the enterprise development agencies and other regional stakeholders in supporting enterprise growth and jobs in areas of potential. It is my intention that this framework will be applied initially to produce action-oriented plans to support enterprise growth and jobs in the Midlands region and the South East region. Learning in these regions will inform any adaptations that might need to be made prior to the framework being applied to other regions in the course of 2015.