Written answers

Thursday, 10 February 2022

Department of Enterprise, Trade and Employment

Regional Development

Photo of Pauline TullyPauline Tully (Cavan-Monaghan, Sinn Fein)
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64. To ask the Minister for Enterprise, Trade and Employment his plans to deliver on the commitment of balanced regional development encompassed within the National Development Plan 2021-2030; and if he will make a statement on the matter. [6993/22]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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Regional enterprise development and sustainable job creation is a key policy priority of mine and the Government and is a core element of the National Development Plan. My Department plays a very strong part in implementing that policy goal through a variety of policy initiatives and investments in the regions.

Future employment growth and sustainability requires a major focus on boosting regional growth potential to secure sustainable quality employment. This necessitates the generation of growth that is sustainable, driven by exports and underpinned by innovation and competitiveness in all regions.

Through our Agencies we continue to support and drive the creation of new enterprises in the indigenous sector nationally and in particular the generation of employment in all regions.

The Deputy will be aware that Enterprise Ireland launched its new three-year strategy, entitled ‘Leading in A Changing World’. The strategy sets out five key strategic ambitions for Irish enterprise and for Enterprise Ireland over the period 2022-2024 and beyond. This strategy fully aligns with Government's ambition to bring job opportunities and growth to all parts of Ireland increasing total employment to a record high of 2.5 million by 2024 with an ambitious target of creating 45,000 jobs over the next three years and increasing exports by Enterprise Ireland client companies to €30 billion.

The IDA has made great strides in boosting investment in regional locations. Of the 246 investments won in 2020, more than half went to regional locations. Similarly in 2021, of the 249 investments secured by the IDA, over half (133) were for locations outside Dublin. The IDA is doing everything it can to encourage investors to locate in regional areas. This includes actively marketing potential investment sites outside of our main cities and working to develop recognised industry clusters that will attract overseas investors to regional locations.

A key strategic investment priority in the NDP is investing in regional growth and resilience. My Department has approved over €126 million in funding to 79 enterprise strengthening projects in every region over a series of competitive calls since 2017. In addition to the €5 million allocation for regional enterprise funding in Budget 2022, my officials are in the process of exploring new significant sources of funding to drive implementation of the nine new Regional Enterprise Plans. I expect to announce details on new regional funding shortly.

Investment in the NDP priorities will help maintain and build on our competitive, innovative and resilient enterprise base, providing high-quality jobs and employment opportunities for people to live and prosper in all regions.

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