Tuesday, 17 September 2019
Department of Jobs, Enterprise and Innovation
IDA Ireland Portfolio
I propose to take Questions Nos. 309 to 318, inclusive, together.
I note the Deputy has asked four questions about IDA properties in Fermoy, as well as three separate questions each in respect of IDA property in Mallow and Carrigtwohill.
With regard to Fermoy, the Agency owns two sites consisting of 0.94 hectares in Rathealy and 6.05 hectares in the Business and Technology (B&T) Park on the Dublin Road. I have been informed by the IDA that they are not currently in talks with any third parties about the sites. While these properties in Fermoy are suitable for investment, information on any visits to them by IDA clients is not available as the Agency only collates site visit data on a county-by-county basis.
As for Carrigtwohill, the IDA owns approximately 65.5 hectares of marketable land in that area, comprised of 12.5 hectares on the Carrigtwohill B&T Park and 53 hectares in the Ballyadam area. In Mallow, there are 0.68 hectares of marketable land at the Agency’s B&T Park there. While information on site visits to these specific locations is not available, the Agency is actively marketing the properties in Carrigtwohill and Mallow to potential investors.
As I have indicated previously, the availability of marketable lands, such as these, in advance of demand continues to be a crucial ingredient in the IDA’s capacity to compete for mobile foreign direct investment (FDI). Not only does such a supply of properties help the Agency to secure high quality jobs but it also allows projects to begin at an earlier date by diminishing difficulties associated with land acquisition, planning and construction. It therefore remains an important means by which the IDA can encourage and attract new investors to Ireland, particularly to regional locations.
County Cork continues to be a strong performer in terms of FDI. This trend is continuing, with a steady and positive increase in employment numbers in IDA Ireland client companies in the County over the past number of years. There are currently 169 IDA client companies in Cork, employing approximately 39,000 people. There have also been a number of recent significant recent job announcements by IDA clients including 400 jobs at VoxPro, 200 positions at Deutsche Borse Group and 100 new jobs at Forcepoint.
It is clear, not least from the County's recent performance over the last number of years, that Cork has a robust enterprise base and remains a highly attractive destination for overseas companies. Work will nevertheless continue, by both the enterprise agencies and the Government, to boost further investment and job creation in County Cork and the broader South-West region.