Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

293. To ask the Minister for Jobs, Enterprise and Innovation if he will provide on a county basis a breakdown of the number of IDA Ireland sponsored visits for each year since 2010, and to date in 2013; and if he will explain the IDA Ireland's strategy to ensure there is an equitable distribution of visits among counties. [36399/13]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Details of the number of IDA sponsored site visits by potential investors on a county basis from the beginning of 2010 to date in 2013 are set out in the attached tabular statement.

IDA has indicated that, in seeking to achieve balanced regional development and the broader goal of securing new foreign direct investment (FDI) projects for Ireland in a very competitive global environment, the concept of scale is crucial. In order to achieve balanced regional economic development, IDA prioritises the marketing of its Gateway locations within each Region as the locations of critical mass and highlights the opportunities provided by other locations on an opportunistic basis, which are within commuting distances of these Gateways.

That having been said, it must be acknowledged that some locations outside of Dublin and the main urban centres already facilitate the presence of a large number of multinational companies who have invested over the years, span multiple sectors and employ significant amounts of people. The primary opportunity for regional locations is in respect of the existing client base and potential further investment opportunities from same. Approximately 70% of all FDI investments won by IDA is from the existing client base.

I am determined to ensure that Ireland can continue to compete globally for foreign direct investment. In winning such investments, I am, however, mindful of the need to address the concerns that have been expressed to me by Deputies on all sides of the House about the relatively low level of site visits to certain regional locations. I have, accordingly, requested IDA Ireland and Enterprise Ireland to work with my Department so that we can explore what further initiatives we can take to ensure we have a better approach to enterprise development in regional locations. This exercise will complement the in-depth analysis of our FDI strategy which is currently being undertaken. This analysis, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, the changes to the EU’s State Aid rules that will be introduced in 2014 and our approach to regional development will inform the formulation of an appropriate FDI strategy for the period post 2014.

Table showing the number of IDA sponsored site visits by potential investors

Note : These figures are NOT indicative of the number of companies that visited the country. Companies can visit more than one region and more than one location within a county. Therefore, these figures indicate the number of individual site visits made to various sites around the country.

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

294. To ask the Minister for Jobs, Enterprise and Innovation in the context of the IDA Ireland’s Horizon 2020 strategy and the target that 50% of investments will be located outside Dublin and Cork, if he will provide a breakdown of the number of IDA Ireland sponsored visits to Dublin which also visited Cork and the number of IDA Ireland sponsored visits to Cork which also visited Dublin since 2010. [36400/13]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am informed by IDA Ireland that, since the beginning of 2010 to end of June 2013, there have been 667 IDA sponsored site visits by potential investors to Dublin and 135 such visits to Cork. I understand that some companies would have visited Dublin and Cork on the same itinerary or at different stages and over a number of itineraries, whilst others would have visited just Dublin and just Cork respectively. IDA has informed me that it does not have the facility to manipulate its data base to provide an instant cross reference of site visits for companies that have visited both Dublin and Cork.

A number of locations outside of Dublin and the main urban centres already facilitate the presence of a large number of multinational companies who have invested over the years, span multiple sectors and employ significant amounts of people. The primary opportunity for attracting FDI to such regional locations lies with existing clients and the potential further investment opportunities from this base as approximately 70% of all FDI investments won by IDA is from the existing client base.

I am determined to ensure that Ireland can continue to compete globally for foreign direct investment. In winning such investments, I am, however, mindful of the need to address the concerns that have been expressed to me by Deputies on all sides of the House about the relatively low level of site visits to certain regional locations. I have, accordingly, requested IDA Ireland and Enterprise Ireland to work with my Department so that we can explore what further initiatives we can take to ensure we have a better approach to enterprise development in regional locations. This exercise will complement the in-depth analysis of our FDI strategy which is currently being undertaken. This analysis, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, the changes to the EU’s State Aid rules that will be introduced in 2014 and our approach to regional development will inform the formulation of an appropriate FDI strategy for the period post 2014.

Table showing the number of IDA sponsored site visits to Dublin and Cork

Note : These figures are NOT indicative of the number of companies that visited the country. Companies can visit more than one region and more than one location within a county. Therefore, these figures indicate the number of individual site visits made to various sites around the country.