Written answers
Tuesday, 23 July 2024
Department of Enterprise, Trade and Employment
State Bodies
Louise O'Reilly (Dublin Fingal, Sinn Fein)
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536.To ask the Minister for Enterprise, Trade and Employment the estimated cost of increasing Enterprise Ireland funding by 5%, 10%, 20%, 25% and 50%, in tabular form. [31170/24]
Peter Burke (Longford-Westmeath, Fine Gael)
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The funding provision to Enterprise Ireland covers two subheads on my Department’s Vote, Subheads A7 and B4, which span general supports to indigenous firms and for research and development/innovation supports. My Department has allocated a total of €372.305 million in respect of these subheads in 2024. The cost of increases of 5%, 10%, 20%, 25% and 50% are set out in the table below:
- | REV Allocation 2024 (€,000) | 5% Increase (€,000) | 10% Increase (€,000) | 20% Increase (€,000) | 25% Increase (€,000) | 50% Increase (€,000) |
---|---|---|---|---|---|---|
Enterprise Ireland A7Jobs and Enterprise Development | 213,173 | 223,832 | 234,490 | 255,808 | 266,466 | 319,760 |
Enterprise Ireland B4Innovation | 159,132 | 167,089 | 175,045 | 190,958, | 198,915 | 238,698 |
Total | 372,305 | 390,921 | 409,535 | 446,766 | 465,381 | 558,458 |
The Disruptive Technologies Innovation Fund is administered on behalf of the Department of Enterprise, Trade and Employment by Enterprise Ireland. This fund has an allocation of €42.5m for 2024 which is not included in the 2024 total figure for Enterprise Ireland.
Louise O'Reilly (Dublin Fingal, Sinn Fein)
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537.To ask the Minister for Enterprise, Trade and Employment the estimated cost of increasing IDA Ireland funding by 5%, 10%, 20%, 25% and 50%, in tabular form. [31171/24]
Peter Burke (Longford-Westmeath, Fine Gael)
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A total of €265.993m has been allocated by my Department to support the Industrial Development Authority for 2024. The table below outlines the estimated cost of increasing IDA Ireland funding by 5%, 10%, 20%, 25% and 50%.
- | REV Allocation 2024 (€,000) | 5% Increase (€,000) | 10% Increase (€,000) | 20% Increase (€,000) | 25% Increase (€,000) | 50% Increase (€,000) |
---|---|---|---|---|---|---|
IDA Ireland A5 | 265,993* | 13,300 | 26,599 | 53,199 | 66,498 | 132,997 |
Total | 279,293 | 292,592 | 319,192 | 332,491 | 398,990 |
*The 2024 funding allocation is supplemented by Capital Carryover of €15.3m. IDA also generate own resource income.
Louise O'Reilly (Dublin Fingal, Sinn Fein)
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538.To ask the Minister for Enterprise, Trade and Employment the estimated cost of increasing Local Enterprise Office funding by 5%, 10%, 20%, 25% and 50%, in tabular form. [31172/24]
Emer Higgins (Dublin Mid West, Fine Gael)
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Local Enterprise Offices (LEOs) play an extremely important role at local level, as part of a supportive ecosystem, providing their services direct to small businesses and promoting entrepreneurship within towns and communities across the country. LEOs are the first stop shop for every business in the country.
LEOs provide a signposting service for all government supports available to the SME sector and can provide information/referrals to other relevant bodies under agreed protocols. The LEOs’ range of competitiveness and productivity supports are designed to help businesses address some of their most challenging issues – namely saving time, money and energy.
Funding for the Local Enterprise Offices is provided by my Department through the A8 Subhead and is dispersed to the 31 LEOs to provide administration costs and to support businesses with grants, soft supports and national initiatives.
LEOs provide funding to businesses with direct grant supports, including Priming grants , Business Expansion grants, the Trading Online Voucher scheme and the Energy Efficiency Grant. LEOs also provide a range of productivity and competitiveness supports including the LEO Lean, Green and Digital consultancy supports and national initiatives such as the Student Enterprise Program, the National Enterprise Awards and the forthcoming Ireland’s Best Emerging Entrepreneur competition.
The estimated cost of increasing Local Enterprise Office funding by 5%, 10%, 20%, 25% and 50%, is set out in the table below.
- | 2024 Budget | 5% Increase | 10% Increase | 20% Increase | 25% Increase | 50% Increase |
---|---|---|---|---|---|---|
Total | 56,797 | 59,637 | 62,477 | 68,156 | 70,996 | 85,196 |
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