Fitzpatrick urges Minister to secure more foreign investment to Dundalk

INDEPENDENt tD Peter Fitzpatrick has urged the Minister of Enterprise, trade and Employment, Neale Richmond, to seek briefings from IDA Ireland and Enterprise Ireland to actively secure foreign and indigenous direct investment across Louth. County Louth is currently home to 36 IDA Ireland client companies directly employing 4,485 people but with job losses at both National Pen and PayPal in recent months Deputy Fitzpatrick wants the government to do more to attract investment in Louth.

“this question is to ask the Minister for Enterprise, trade and Employment if he will seek briefings from IDA Ireland and Enterprise Ireland on the work that they are currently undertaking to actively secure foreign and indigenous direct investment in areas in County Louth, such as at a complex in Dundalk regarding which details have been supplied, and if he will make a statement on the matter.

In response the Minister pointed to the fact that IDA Ireland had acquired two land banks in Co. Louth last year with a combined total of 157 acres which will be used to attract foreign investment.

“the timely provision of appropriate, cost-effective property and infrastructure solutions to meet the needs of multinational companies remains essential to winning FDI,” stated Minister Richmond.

“In June 2021, IDA Ireland acquired two land banks in County Louth. these land acquisitions, with a combined total of 157 acres, are situated in Drogheda and Dundalk and form part of the IDA’s long-term strategic plan to position Louth and the wider

Peter Fitzpatrick

region to compete for FDI investment. the IDA has also delivered an advanced office solution on IDA’s Finnabair Business Park and an advanced business solution building at IDA’s Mullaharlin science and technology park in Dundalk. the agency also plans to commence the delivery of an advanced building solution in Drogheda as part of the current strategy.

“the IDA continues to work with private sector commercial property owners, developers and local authorities to market other property solutions across all regions where they exist. the IDA is familiar with the property and infrastructure solution that the Xerox business campus offers to potential new enterprises and actively markets such potential property solutions for FDI and to meet the needs of Enterprise Ireland clients.

“I was in Dundalk a couple of weeks ago with one of the Deputy’s colleagues. there are some amazing business opportunities happening in the town in terms of new indigenous business and making the most of the Creative Spark hub, but there is also huge investment coming in from abroad. It is fair to say the town is thriving, but we remain ambitious for Dundalk and the entire region,” stated Minister Richmond.

Replying to the Minister Deputy Fitzpatrick pointed to an increase last year in the number of early warning reports for FDI companies which may be experiencing trading difficulties.

“the Department saw an increase last year in the number of early warning reports for FDI companies which may be experiencing trading difficulties or are ceasing operations in Ireland. the number of early warning reports for the first 11 months of 2022 is higher than the same period in 2021. We saw this in County Louth, with the exit of National Pen and the closure of PayPal and Actavis in recent years.

“there are currently a number of significant players being impacted by global trading conditions and the war in ukraine. At a national level, the IDA strategy, Driving Recovery and Sustainable Growth 2021-2024, reflects the approach and ambition of the programme for Government whereby, in conjunction with the Department of Enterprise, trade and Employment, the success of the IDA is measured by the impact of FDI on the Irish economy.

“In terms of job creation and strategic achievements, the closure of the PayPal office in the Xerox complex and the empty state-of-the-art buildings on the Actavis and National Pen sites offer an opportunity for the IDA, the Department of Enterprise, trade and Employment and Enterprise Ireland to attract new businesses and jobs to County Louth,” concluded Fitzpatrick.