Bernard Durkan (Kildare North, Fine Gael)
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236. To ask the Minister for Agriculture, Food and the Marine his vision for the ongoing development of the bloodstock industry, with obvious benefit to the economy; and if he will make a statement on the matter. [21572/16]

Michael Creed (Cork North West, Fine Gael)
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Ireland’s reputation as one of the leading racing and breeding nations in the world has been hard won and during the economic downturn of recent years, the bloodstock industry has shown its resilience and capacity to come through challenging times and, with continued investment, I am confident will flourish in the long-term. Horse Racing Ireland (HRI) is the statutory body with primary responsibility for the development of the bloodstock industry. HRI has ambitious plans for the development of this sect or which are outlined in its draft strategic plan. The HRI strategic plan 2016 - 2019 was presented to my Department last year.

The plan demonstrates that the industry can provide a significant return on investment to the State in terms of employment (particularly in rural Ireland), wealth-creation and the development of a sustainable industry, which will continue to play a significant role in Ireland’s economic recovery. In addition to economic benefits, it will add to the social capital of communities throughout the country, as it has done for generations.

The overriding objective of HRI’s strategic plan however is that by 2020 the industry will be delivering an economic return to the Irish economy significantly beyond the existing levels (current return to the economy is €1.1Billion).

My Department will work closely with HRI in its implementation and will provide whatever support and encouragement that can be made available in this regard.