Eoghan Kenny (Cork North-Central, Labour)
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604. To ask the Minister for Enterprise, Trade and Employment for an update on IDA and Enterprise Ireland investment plans in Cork north central and the Mallow area; and if he will make a statement on the matter. [59037/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Regional development is a key focus of Government’s Programme for Government and is central to the work of my Department and our enterprise development agencies. In this regard, regional development is a core pillar of the IDA 2025–2029 strategy, "Adapt Intelligently" and this strategy includes the aim of securing 550 foreign direct investment (FDI) projects - from a total of 1,000 - outside Dublin, including 155 investments in the South-West.

The South-West Region, which includes the counties Cork and Kerry, is home to 235 IDA client companies, employing 51,968 people, the largest concentration outside of the Dublin region. Notably, employment among these companies has grown by 17% over the past five years, reflecting consistent and sustainable FDI performance in the region. The South-West has a significant ecosystem of well-established companies across Technology, Life Sciences, International Financial Services, Engineering & Industrial Technologies. Moreover, in supporting the South-West region, IDA Ireland operates an office in the city of Cork, working closely with local stakeholders, including City and County Councils, to attract new investment.

Importantly, IDA Ireland does not just focus on attracting new investments, it also provides ongoing support to existing clients. This assistance includes support for research & development and upskilling & talent development, all aimed at helping companies transition to more sustainable, digital business models. Such support is aimed at improving efficiency, reducing carbon emissions, and integrating companies more deeply into the local economy.

The availability of suitable property and strategic sites is also a critical component of the regional value proposition and to the winning of investments into the regions. IDA’s property strategy aims to address regional market failure through investment in enterprise-focused property solutions that meet the needs of both new and existing clients as well as clients of Enterprise Ireland and the Local Enterprise Offices. IDA Ireland also partners with Local Authorities for the delivery of advance planning permits in regional locations as well as investing in significant infrastructure projects across its portfolio of Business and Technology Parks responding to evolving company needs. IDA also maintains a focus on acquisition of new landbanks and strategic sites to future-proof the ability of the property portfolio in regional locations to support the project pipeline.

In this regard, IDA Ireland has identified the need for appropriately zoned and serviceable lands in regional locations, including the South-West to support investment. This targeted forward planning is vital to provide certainty and ensure Ireland has a competitive offering that meets the evolving needs of IDA Ireland and Enterprise Ireland clients. With a clear focus on regional development, a strong pipeline of investment, and collaborative local partnerships, IDA Ireland is positioning the South-West Region as a competitive and attractive destination for global investors.

Enterprise Ireland is also actively advancing enterprise development and investment in Mallow and the wider North Cork region through a strategic blend of funding, infrastructure, and innovation supports. A key focus has been on strengthening the agri-food sector, with substantial capital investment directed towards local companies, designed to enhance competitiveness, stimulate innovation, support expansion into new markets and create sustainable employment in the region.

Enterprise Ireland is also nurturing entrepreneurship through targeted supports for early-stage and high-growth companies. The Pre-Seed Start Fund and High Potential Start-Up Fund have collectively awarded €3.6 million to Cork-based start-ups and scale-ups across 2024 and 2025. These initiatives are helping to build a pipeline of innovative businesses in sectors such as Climate Tech, Life Sciences, FinTech, and Digital Tech. The New Frontiers programme, delivered through the Rubicon Centre at Munster Technological University, further strengthens the start-up ecosystem by providing structured support, mentoring, and funding to early-stage entrepreneurs.

As infrastructure development is also a key priority, Cork has received €8.8 million in Regional Enterprise Development Fund (REDF) grants for projects including enterprise hubs and biotech innovation centres. Additionally, €0.5 million has been allocated through the Smart Regions Enterprise Innovation Scheme to support feasibility and priming initiatives. These investments foster place-based innovation and encourage collaboration between local enterprises, research institutions and public bodies.

Enterprise Ireland’s broader strategy aims to support 1,000 new start-ups and 1,700 new exporters nationally by 2029, with Cork playing a pivotal role. Through its international office network, the agency is helping local businesses access global markets and scale internationally, and at the same time supporting sustainability and digital transformation enabling businesses to adopt new technologies, reduce emissions, and improve operational efficiency.

My Department and our agencies also contribute to regional development through the nine Regional Enterprise Plans (REPs) which aim to address challenges and foster new enterprise development opportunities bring added value and increased impact through by promoting collaboration amongst regional actors. The South-West REP was launched in 2022 and extended to the end of this year, to leverage the established strengths of the region in relation to food, agritech and tourism and strengthen the business environment in areas such as skills and digitalisation. Implementation is overseen and monitored by a Steering Committee made up of representatives from the public and private sector.

Collectively, these initiatives reflect my Department’s, IDA Ireland’s and Enterprise Ireland’s commitments to building a resilient, innovative, and regionally balanced economy and promoting investment in Cork north central and the Mallow area.