Emer Currie (Dublin West, Fine Gael)
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63. To ask the Minister for Enterprise, Trade and Employment to set out his plans to provide additional funding and to introduce changes to policy in order to support the new IDA Strategy 2025-2029; and if he will make a statement on the matter. [34583/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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IDA Ireland’s new strategy, “Adapt Intelligently: A Strategy for Sustainable Growth and Innovation 2025-29” which I launched in February 2025, is one of ambition and opportunity, developed in the context of a changing global landscape and aligned with the Programme for Government and our White Paper on Enterprise. IDA, of course, also advocates for progression of wider national policy issues underpinning its strategy including on infrastructure and utilities, energy, EU and regulatory matters.

The Programme for Government includes a range of commitments led by my Department in conjunction with the IDA. In this regard, the IDA Strategy is strongly aligned with these Programme for Government commitments as well as wider national policies across Government. Several elements, specific to the IDA in the Programme for Government are already integral to the IDA strategy, including maximising regional opportunities through the agency’s Regional Property Programme and development of critical Next Generation Sites to attract large scale investments.

Furthermore, in line with the Programme for Government, IDA’s strategic objectives include retaining the existing strong FDI base, strengthening long term investment, scale cutting edge innovation, drive sustainable change, maximise regional opportunities and deepen and scale RD&I in Ireland and to win investment in key growth areas including digitalisation and artificial intelligence, semiconductors, health and sustainability.

On 19th May this year, I launched Silicon Island – Ireland’s National Semiconductor Strategy, another commitment in the Programme for Government and a key strategic sector for IDA with opportunities across Quantum Tech, Photonics, AI, Compound Semiconductors, and MedTech. Over €70 million in National and EU funding has been earmarked for Tyndall National Institute’s participation in three EU “Pilot Lines” under the Silicon Island which includes a significant exchequer contribution administered by the IDA. The Programme for Government also commits to the development of a National Life Sciences Strategy, a key sector for Ireland and IDA accounting for over 100,000 jobs and over €130 billion in exports.

Funding of the IDA through my Department is, of course, subject to the annual Estimates process with Oireachtas Grants supplemented by Own Resource Income (ORI) generated primarily from property transactions. In 2025 the Exchequer allocation of €283m will be augmented by anticipated ORI of almost €58m.

IDA’s client grant budget is a priority for the agency for the attraction of new investors to Ireland in an increasingly competitive environment with a focus on innovation, sustainability, and digitalisation in line with the new strategy with a high percentage paid in respect of R&D. I secured an increased allocation for the IDA for Grants to Industry in 2025 as well as for the IDA’s Regional Property Programme which aims to address regional market failure through investment in enterprise-focused property solutions in support of winning regional investments.

The 2025 Estimate represents a net budget increase of €12.6m for IDA Ireland in 2025, compared to the 2024 final Estimate net of capital underspend of €6m and underpins the new strategy to allow IDA to continue to attract new, and embed existing, multinational companies in Ireland.

Delivering on ambitious targets to 2029 under the new strategy will require additional funding and is part of ongoing considerations under the review of the NDP as well as in relation to staffing levels. Increased client grant budget - including to underpin engagement in Important Projects Common European Interest - initiatives under the European Chips Act, to maintain an ongoing focus sustainability and digitalisation, deepen investment in RD&I and investment in ecosystem actors and national competency centres including the National Institute for Bioprocessing Research and Training, Digital Manufacturing Ireland (DMI) and Tyndall National Institute, as well as an increase in the IDA property budget linked to development of 3 Next Generation Sites.

All this is informing my ask in the Estimates process for the years ahead in support of our Programme for Government Inward Investment policy ambitions.