Written answers

Wednesday, 18 May 2022

Department of Enterprise, Trade and Employment

Industrial Development

Photo of Brendan SmithBrendan Smith (Cavan-Monaghan, Fianna Fail)
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45. To ask the Minister for Enterprise, Trade and Employment the progress that has been made to date in the implementation in the Border region of the IDA Strategy Driving Recovery and Sustainable Growth 2021-2024; and if he will make a statement on the matter. [25261/22]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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Regional development is at the centre of IDA Ireland's current strategy “Driving Recovery & Sustainable Growth 2021-2024”. Under this Strategy, which seeks to further enhance FDI’s place at the centre of a resilient, sustainable, and inclusive Irish economy, the IDA is targeting half of all investments to regional locations.

As the Deputy may be aware, IDA Ireland announces mid and end year results. The latest results, released in December last year, show a very strong first year of this Strategy.

Highlights of IDA Ireland’s performance throughout 2021 include the creation of over 29,000 new jobs in IDA supported client companies, bringing the numbers directly employed in the multinational sector in Ireland to 275,384. The net number of jobs created in 2021 was 16,826 with the existing base of FDI showing continued resilience. In total 249 investments were won with 104 of these new name investments

More than half (53%) of investments won during 2021 went to regional locations with every region experiencing growth. The Border Region covers counties Cavan, Donegal, Leitrim, Monaghan, and Sligo. There are 67 IDA client companies in the Border Region supporting 8,721 jobs directly and 6.977 jobs indirectly. IDA Ireland client employment in the region grew by 3% in 2021 with an additional 226 net jobs created.

The FDI performance in the region has been strong over the past five years with employment among IDA clients increasing by 22% within the Engineering & Industrial Technologies, Medical Technologies, Technology, International Financial Services and Life Sciences sectors.

From an economic impact perspective, €450 million was spent by IDA client companies in the region on payroll during 2020; €564 million was spent on Services and Materials; and €51 million was spent on in-house R&D (2020 ABSEI).

Under their Regional Property Programme, over their last strategy IDA delivered an Advanced Technology Building in Sligo. IDA has also partnered with Sligo County Council to develop the Western Distributor Road, opening up the 85-acre land bank at Oakfield, Sligo.

The IDA has recently completed an Advanced Office Building in Finisklin, Sligo and an Advanced Technology Unit in Monaghan. Additional Advanced Building Solutions will be delivered in Cavan, Sligo and Letterkenny during the lifetime of the current Strategy (2021-2024).

Planning permission for an Advanced Technology Building in Carrick on Shannon has been granted through a partnership with Leitrim County Council. IDA Ireland will continue to work closely with the private sector in the North-West provision of appropriate and cost-effective building and property solutions for client companies.

The 2021 figures show a pattern of sustained, robust growth in FDI investment and employment over a continuous period of more than ten years. I expect the IDA’s 2022 mid-year results to be announced in June.


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