Dara Calleary (Mayo, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Regional development is at the heart of this Government's Enterprise White Paper and of IDA Ireland's current strategy “Driving Recovery & Sustainable Growth 2021-2024”. Under this Strategy, the IDA is targeting half of all investments to regional locations which aligns with the objectives of the Programme for Government. Specifically, IDA Ireland is targeting 25 investments for the Midlands region to end 2024.

Longford is already home to 7 IDA Ireland client companies directly employing more than 1,620 people and has an impressive range of companies across all industry sectors, with strengths in Life Sciences, Technology, Global Business Services, International Financial Services, and Engineering & Industrial Technologies.

This portfolio of multinational companies is hugely significant to the region with the Midlands having become a key strategic base for global companies of scale. Global leaders who have invested in the Region include Technimark, Avery Dennison and Abbott in Longford, amongst others.

IDA Ireland is fully committed to delivering an advanced building solution in Longford and I am advised that the Agency is continuing to liaise with Longford County Council and with wider stakeholders to identify a suitable site for the proposed Advance Building Solution (ABS). The site selection process is currently on-going.

Foreign Direct Investment employment in the Midlands region has increased by 43% in the past 5 years, with the 2022 figures showing 10.5% growth on 2021. Further, Foreign Direct Investment has a significant impact on the Midlands Region from an economic impact perspective, with an estimated €402million spent by MNC’s on payroll during 2020; €126million spent on Services and Materials; and €92million spent on in-house R&D.

In December last, Technimark, a global manufacturing leader for the healthcare market, announced it will create 80 new highly skilled roles over the next two years as it expands its operations in Longford, with a 50,000-square-foot addition, doubling the size of its existing plant. Technimark will be investing €26million to expand the facility's capacity in medical manufacturing, including precision injection moulding, value-added assembly, finished device assembly and contract manufacturing.