Louise O'Reilly (Dublin Fingal, Sinn Fein)
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151. To ask the Minister for Enterprise, Trade and Employment the current budget for Enterprise Ireland; and the estimated cost of increasing its budget by 5%, 10%, and 20%. [22194/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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The current budget for Enterprise Ireland for 2023 is set out below

The estimated cost of increasing its DETE Exchequer Funding by 5%, 10%, and 20% is set out below

* ORI figure is largely determined by trade sales which are substantially outside the control of Enterprise Ireland, and are fundamentally determined by the market

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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152. To ask the Minister for Enterprise, Trade and Employment the financial return generated from Enterprise Ireland investments in 2022; and the projected return for 2023. [22195/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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In 2022, Enterprise Ireland had an investment income target, as part of its Own Resource Income (ORI) sanction, of €69m and it received €87m proceeds from investment activity.

In 2023, as part of the annual Own Resource Income sanction request from DPER, Enterprise Ireland has an investment income target of €75m from investment activity.

Any excess ORI generated above the sanctioned amount is either returned to the Exchequer as Extra Exchequer Receipts, or retained by Enterprise Ireland subject to additional sanction by the Department of Public Expenditure NDP Delivery and Reform with a corresponding reduction in the Exchequer allocation drawdown by Enterprise Ireland.

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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153. To ask the Minister for Enterprise, Trade and Employment if all moneys generated by Enterprise Ireland from investments is kept by EI to reinvest. [22196/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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Monies generated by Enterprise Ireland from investments are classified as Own Resource Income (ORI).

The amount of ORI retained by Enterprise Ireland is subject to annual sanction by the Department of Public Expenditure, NDP Delivery and Reform and is used, in conjunction with Enterprise Ireland’s Exchequer allocation, to fund its activities.

Any excess ORI generated above the sanctioned amount is either returned to the Exchequer as Extra Exchequer Receipts, or retained by Enterprise Ireland subject to additional sanction by the Department of Public Expenditure NDP Delivery and Reform with a corresponding reduction in the Exchequer allocation drawdown by Enterprise Ireland.

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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154. To ask the Minister for Enterprise, Trade and Employment the current budget for InterTradeIreland; and the estimated cost of increasing its budget by 10%, 20%, and 50%. [22197/23]

Simon Coveney (Cork South Central, Fine Gael)
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InterTradeIreland (ITI) is one of six North-South implementation bodies established under the Good Friday Agreement. It operates under the oversight of the NSMC and of its sponsor Departments, the Department of Enterprise, Trade & Employment and the Northern Ireland Department for the Economy. ITI works to promote trade and business on an all-island and cross-border basis. Through its range of programmes, the Body continues to support and develop cross-border trade and businesses as they face the challenges that have emerged in recent years, including Brexit and, more recently, Covid-19.

ITI is jointly funded by my Department and the Department for the Economy on a 2:1 ratio. For 2023 my Department has allocated a total of €11.586m to support ITI’s work. This closely matches its allocation in 2022 and will allow the Body to continue to deliver its effective work to grow trade across the border and assist SMEs to scale their business and address challenges in the new trading environment. I have set out below the cost of increasing the Body’s budget at the different levels you have requested:

10% -

€12.7448m

20% -

€13.9032m

50% -

€17.379m

As ITI is under the joint oversight of both my Department and the Department for the Economy, its budgets require approval from both Departments. This is normally set out in advance in InterTradeIreland’s three-year Corporate Plans. In its draft Corporate Plan for 2023-25, ITI anticipates an overall budget of approximately €16.86m in 2023, €17.44m in 2024 and €18.6m in 2025.

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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155. To ask the Minister for Enterprise, Trade and Employment the financial return generated from InterTradeIreland investments in 2022; and the projected return for 2023. [22198/23]

Simon Coveney (Cork South Central, Fine Gael)
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InterTradeIreland (ITI) is one of six North-South implementation bodies established under the Good Friday Agreement. It operates under the oversight of the NSMC and of its sponsor Departments, the Department of Enterprise, Trade & Employment and the Northern Ireland Department for the Economy. ITI works to promote trade and business on an all-island and cross-border basis.

One of InterTradeIreland’s key performance indicators is the Business Development Value it generates, a metric which demonstrates the positive financial impact InterTradeIreland programmes have on the growth and economic development of participating businesses. This is an aggregation of impacts from the body’s portfolio of programmes and incorporates additional revenue generated, efficiency savings and investments made as a direct result of a company’s participation on an ITI programme. Business Value is captured through ITI’s monitoring activities and independent evaluations and is based on business values reported directly by individual companies that have previously completed our programmes.

In 2022 ITI achieved a Business Development Value of €138.7 million against a target of €113.9 million. ITI’s Business Development Value target for 2023 is €121 million, with the body having achieved a value of €46.2 million for the year to date. ITI have indicated that they are on track to meet their target for 2023.