Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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561.To ask the Minister for Enterprise, Trade and Employment for an update on the action being taken by the IDA and Enterprise Ireland to support new businesses and jobs in counties Cavan and Monaghan and the greater Border region; and if he will make a statement on the matter. [32225/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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Regional development is a key element of Government's enterprise policy, as set out in the White Paper on enterprise and is a key focus of the work of my Department and our agencies. In that regard, under its current strategy, Driving Recovery and Sustainable Growth 2021-2024, the Industrial Development Authority, IDA Ireland is targeting at least half of all investments to regional locations.

The IDA 2024 mid-year results announced in early July indicate a strong performance across foreign direct investment indicators set out in the agency's strategy, Driving Recovery and Sustainable Growth 2021-2024, as targets for the total number of investments, job approvals, regional investment and number of sustainability projects supported by the agency are now exceeded.

The IDA Border region comprising counties Donegal, Sligo, Leitrim, Cavan and Monaghan is home to 72 IDA client companies employing 10,173 people. The foreign direct investment, FDI, performance has been consistent over the past five years, with nine IDA supported companies in Cavan, supporting 821 jobs, and six companies in Monaghan employing 283 people at end 2023.

The Border region has a significant ecosystem of well-established companies across engineering and 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.

IDA Ireland continues 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's ongoing efforts in the region also include the delivery of buildings and other land and infrastructure improvements under IDA’s regional property programme to meet the needs of IDA, Enterprise Ireland, EI, and the local enterprise Offices. IDA has recently completed the construction of an advance building solution in Monaghan which is being actively promoted to potential IDA and EI clients. In addition, IDA has recently awarded the contract to deliver a circa 3,239 sq. m advance building solution at the IDA Cavan Business and Technology Park with the main contractor now on site. An advance office building was completed in Sligo at the end of 2021 and an advance building solution is under construction at Oakfield Business Park under the programme. Planning has also been granted for an advance building solution in Letterkenny and contractor procurement has been initiated.

Enterprise Ireland is aggressively focused on the creation of new jobs through supporting entrepreneurs in manufacturing and internationally traded services, companies who are setting up new high potential start-up companies, the retention and creation of new jobs in existing companies and in enhancing the innovation capability of Ireland at a national and regional level through support of research in companies and third level institutions. Enterprise Ireland also supports the provision of incubation space for new start-ups both on college campuses and community enterprise centres.

To align with the objectives of the programme for Government, Enterprise Ireland will ensure that businesses of all sizes are assisted on their development journey from start-up to scaling. The core collective objectives will be to boost the productivity of established businesses and connect enterprises with innovation opportunities at home and internationally, maximising their growth and job creation potential.

The 2023 annual employment survey shows there are 70 EI-supported companies in Cavan, supporting 6,942 jobs, and 81 companies in Monaghan, employing 6,709 people.

In May last, leading electrical contractor to the construction and commercial sectors in Ireland, Callaghan Electrical, announced it has become the first construction sub-contractor to secure funding under the Enterprise Ireland: Built to Innovate initiative. The initiative is aimed at achieving faster, higher-quality construction of housing by providing funding support for productivity training, innovation and the introduction of digital, paperless systems. In March Hanley Energy Ltd announced 50 new jobs in Cavan, while in December 2022, it announced 225 new jobs in Monaghan and Louth.

In November 2023: Sam Moffett, managing director and founder of Moffett Automated Storage Ltd, was named as EY Entrepreneur of the Year for 2023. Mr. Moffett, who also won the best emerging entrepreneur award, founded the company in 2017 to provide automated pallet storage and warehousing solutions to clients.

Our enterprise agencies 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 to identify synergies, enhance clustering, participate in site visits and maximise benefits and spillovers.