Eoghan Kenny (Cork North-Central, Labour)
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606. To ask the Minister for Enterprise, Trade and Employment the steps which are being taken to attract new enterprise and investment to Mallow and to the north Cork region; and if he will make a statement on the matter. [59039/25]

Alan Dillon (Mayo, Fine Gael)
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Balanced regional development is a Government priority. My Department and its agencies contribute to this agenda in several ways, including through the nine Regional Enterprise Plans (REPs), which aim to bring added value and increased impact through regional actors working collaboratively to address challenges and foster new enterprise development opportunities. The South-West REP, launched in 2022 and extended to end 2025, covers Cork and Kerry and works 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. Initiatives supported through the REP include the Impact Hub at the Crann Centre and the IT@Cork technology cluster.

Innovative, ambitious start-ups are the bedrock of the Irish economy and will form the foundations of future enterprise success. Enterprise Ireland, in partnership with the 31 LEOs and the wider enterprise and innovation ecosystem, aims to stimulate and foster the next generation of Irish enterprise successes by supporting ambitious start-ups to access finance, build capacity, and grow domestically and internationally. In 2024, EI client companies employed 26,026 people across 678 plants in County Cork.

Enterprise Ireland is 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 including Dairygold Co-Operative Society Ltd in Mallow for product and market diversification, and Ingredient Solutions Ltd in Boherbue to support expansion into new markets. These investments are designed to enhance competitiveness, stimulate innovation, 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 startups 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 (MTU), further strengthens the startup ecosystem by providing structured support, mentoring, and funding to early-stage entrepreneurs.

Infrastructure development is also a key priority and 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 startups and 1,700 new exporters nationally by 2029, with Cork playing a pivotal role. Through its international office network, EI is helping local businesses access global markets and scale internationally. They are also supporting sustainability and digital transformation through the Green Transition Fund and Strategic Company Development Grants, enabling businesses to adopt new technologies, reduce emissions, and improve operational efficiency.

IDA Ireland has reaffirmed its strong commitment to regional development as a core pillar of its 2025–2029 strategy, Adapt Intelligently. This ambitious strategy aims to secure 550 foreign direct investment (FDI) projects outside Dublin, accounting for 55% of all planned investments. The overarching goal is to create 75,000 new jobs nationwide and generate a projected €250 billion in economic impact.

The South-West Region, which includes the counties Cork and Kerry plays a key role in this strategy and is promoted by IDA. The region 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.

The South-West has a significant ecosystem of well-established companies across Technology, Life Sciences, International Financial Services, Engineering & Industrial Technologies. To support 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.

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

Aligned to the Adapt Intelligently Strategy 2024 – 2029, IDA Ireland have identified the need for appropriately zoned and serviceable lands in regional locations, including the South-West, to support investments from FDI and indigenous client companies supported by Enterprise Ireland. This approach will assist in strengthening the existing established client base in core sectors such as Technology, Content, Consumer and Business Services, International Financial Services, Lifesciences Food, Engineering and Green Economy. It will also enhance the opportunity for attracting investment in key growth areas such as digitalisation, AI, semiconductors, health and sustainability.

Collectively, these initiatives reflect Enterprise Ireland and IDA Ireland commitment to building a resilient, innovative, and regionally balanced economy. Mallow and North Cork are well-positioned to benefit from these strategic supports, contributing meaningfully to Ireland’s enterprise future.