Alan Kelly (Tipperary, Labour)
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21. To ask the Minister for Jobs, Enterprise and Innovation if the IDA is adequately resourced to deal with the opportunities of Brexit; and if she will make a statement on the matter. [6344/17]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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I am strongly aware of the importance of equipping IDA Ireland with the resources it needs to compete for and win new Brexit-related foreign direct investment (FDI). That is why, since the result of the referendum on 23 June, I have engaged extensively with the Agency to assess and determine its additional funding requirements.

This process has led to further financial support being allocated to the IDA. As part of Budget 2017, the Agency received a €15 million increase in capital funding to support its grant and property programmes. This was in addition to a higher pay allocation of €750,000 which will allow for the recruitment of nine new Brexit-related personnel. In September 2016 the Government also provided an extra €500,000 to the IDA in order to strengthen its global communications capacity.

These additional resources are already helping IDA Ireland to better manage the opportunities and challenges associated with Brexit. We should not forget, however, that we are facing stiff global competition for all new FDI, whether Brexit-related or not. I will, therefore, continue to keep the Agency’s financial situation and requirements under review.