Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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113. To ask the Minister for Enterprise, Trade and Employment for an update on the IDA’s efforts to attract inward investment to Cavan and Monaghan; and if he will make a statement on the matter. [22979/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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Regional development is a key element of the Government's enterprise policy and is fully reflected in the Strategies of our enterprise development agencies. In that regard, IDA Ireland is targeting at least half of all investments, that is 400 of 800, from 2021 to 2024 to regional locations.

The IDA Ireland figures at the end of 2023 showed there were 132 investments secured across regional locations during 2023, representing 54% of the overall figure for the year. The total number of regional jobs in IDA client companies now stands at 163,471 from an overall total of a little over 300,000.

The IDA Border Region comprising counties Donegal, Sligo, Leitrim, Cavan and Monaghan is home to 72 IDA client companies employing 10,173 people. The FDI performance has been consistent over the past five years with employment among IDA clients in the region increasing by 19%.

The Border Region has a significant ecosystem of well-established companies across Engineering & Industrial Technologies, Life Sciences, International Financial Services and Technology. Key IDA client companies in the region include Abbott, TCS, AbbVie Ultra Clean Technology, Wellman International, Saint Gobain, Boxmore Plastics, Terex MDS, Ex-Cel Plastics and most recently Volumetric Building Company who set up their Global Centre of Excellence in Monaghan and officially opened in May 2023.

The IDA will continue to actively promote Cavan and Monaghan as part of the wider Border Region value proposition, building on the strengths and competencies of the region with a focus on opportunities in the Life Sciences, Technology and Services sectors.

IDA Ireland has also recently completed the construction of an Advance Building Solution in Monaghan which is being actively promoted to potential IDA & EI clients. In addition, the main contractor is now on site at the IDA Cavan Business & Technology Park to deliver an Advance Building Solution in Cavan.

IDA Ireland will continue to collaborate closely with existing clients across the regions to retain and strengthen their presence through continued company transformation as well as pursuing new areas of opportunity for client companies. IDA will also continue to work closely with Enterprise Ireland and its indigenous base of companies to identify synergies, enhance clusters, participate in site visits and maximise benefits.