Fergus O'Dowd (Louth, Fine Gael)
Link to this: Individually | In context | Oireachtas source

59. To ask the Minister for Enterprise, Trade and Employment to outline all capital investments made by the IDA, if any, in the constituency of Louth and east Meath since 2020; and if he will make a statement on the matter. [45397/24]

Fergus O'Dowd (Louth, Fine Gael)
Link to this: Individually | In context | Oireachtas source

60. To ask the Minister for Enterprise, Trade and Employment to outline all the funding provided by location in the constituency of Louth and east Meath for job creation and separately other financial supports to existing companies in Louth and east Meath, including land acquisition and advance factories by the IDA and by Enterprise Ireland, respectively since 2020; and if he will make a statement on the matter. [45411/24]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 59 and 60 together.

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 this regard, the availability of property and infrastructure solutions can be a key factor in investment decisions and a robust property and infrastructure ecosystem can be a major differentiator in winning foreign direct investment (FDI) projects.

IDA’s Property strategy aims to address regional market failure through investment in enterprise-focused property solutions in support of winning investments. This Property strategy includes delivery of the Regional Property Programme, land acquisition and investment in enabling infrastructure to ensure the portfolio remains fit for purpose. The IDA also maintains a focus on land banks and utility intensive strategic sites to future proof the ability of their property portfolio to support the project pipeline.

In the current IDA Strategy - Driving Recovery and Sustainable Growth 2021–2024 - IDA is progressing the delivery of 19 Advanced Building Solutions in 15 regional locations. 8 of the 19 buildings are complete, including the Advance Office Building in Finnabair Business Park in Dundalk Co Louth, completed in late 2022 and now occupied. The development of IDA’s land bank in Drogheda forms part of IDA’s long term strategic plans to position Drogheda and the wider Mid-East region to compete for FDI investment. At present IDA is currently completing infrastructure remedial works at the site.

A planning application has also been lodged with the Local Authority (Louth County Council) for the Advanced Building Solution in Drogheda. However this has been appealed to An Bord Pleanála and IDA awaits this decision and, therefore, it is not possible to confirm when construction will commence in the absence of this planning decision. However, IDA will endeavour to commence the process for delivery once this has been received.

Table 1 shows the capitalised IDA expenditure (including Infrastructure, building and acquisition spending) in Co Louth from 2020-2023:

Table 1

*2024 capitalised expenditure is not yet processed

There was no Capital expenditure by IDA Ireland in Co Meath for 2020-2023.

IDA Grants to to companies are set out in Table 2 below. Grants paid in a particular year are not necessarily linked to either the investments won or the jobs created in that 12-month period. Grants are generally drawn down over the lifetime of a project which is normally over a period of three to five years. Some investments which result in job creation may not be grant aided and some well-established firms may no longer be receiving grant payments.

Table 2

For Enterprise Ireland, grants to companies are set out in Table 3 below. There have been payments of €45.4 million made to the counties of Louth and Meath by Enterprise Ireland in the years 2020, 2021, 2022 and 2023. There was €2.5 million paid towards infrastructural investments in County Louth in the years from 2020 to 2023, and there was €7.7 million paid towards infrastructural investments in County Meath in the years from 2020 to 2023 by Enterprise Ireland.

In terms of non-infrastructural payments, there was €20.7 million paid towards undertakings in County Louth from 2020 to 2023 whilst there was €14.6 million paid towards undertakings in County Meath between 2020 and 2023.

Table 3