IDA ‘not doing enough’ to push its North Cork sites
SEAN SHERLOCK CALLS ON AGENCY TO DO MORE TO BRING INVESTORS TO MALLOW AND FERMOY
DESPITE an insistence by enterprise minister Heather Humphreys that Cork is a “strong performer” in terms of foreign direct investment (FDI), not enough is being done to bring new enterprises to IDA sites in North Cork.
That’s the view of Cork East Labour TD Sean Sherlock, who has called on the IDA to do more to attract investors to its sites in Fermoy and Mallow.
Deputy Sherlock raised the issue in Dáil Eireann, asking Minister Humphreys to outline the status of IDA owned lands in both towns.
Minister Humphreys said the IDA owns two sites in Fermoy, consisting of a 2.3- acre site at Rathealy and the larger 19.2 - acre plot of land at their Business and Technology Park on the Dublin Road, which has remained empty since it was opened to much fanfare in 2002.
In relation to Mallow, Minister Humphreys said there was approximately 1.6-acres of “marketable” land at the IDA’s 18-acre Business and Technology Park in Quartertown.
Deputy Sherlock requested a breakdown of the number of visits made by potential investors to the Fermoy and Mallow sites since the start of 2018 and if these sites “form part of the foreign direct investment push to potential investors”. Minister Humphreys said she had been informed by the IDA that there were “not currently in talks with any third parties” about either of the Fermoy sites.
“While these properties in Fermoy are suitable for investment, information on any visits to them by IDA clients is not available as the agency only collates site visit data on a county-by-county basis,” she said.
Minister Humphreys said that while information on visits to the Mallow site was not available, the IDA was “actively marketing” the property to potential investors.
She said the availability of these sites in advance of demand continued to be a “crucial ingredient” in the IDA’s capacity to compete for mobile FDI as they eliminate difficulties associated with land acquisition, planning and construction.
Minister Humphreys said County Cork continues to be a “strong performer” in terms of FDI, saying there were currently 169 IDA clients’ companies, employing almost 40,000 people, in Cork.
“It is clear, not least from the county’s performance over the last number of years, that Cork has a robust enterprise base and remains a highly attractive destination for overseas companies,” she said.
“Work will nevertheless continue, by both the enterprise agencies and the Government, to boost further investment and job creation in County Cork and the broader South-West region.”
However, Deputy Sherlock was less than impressed with the situation in Fermoy and Mallow, calling on the IDA to expand its remit under the Regional Enterprise Fund.
“The IDA site in Fermoy would be an ideal location to benefit from the fund, which could see early stage food technology companies, who start life at the research phase in Moorepark, scaling up and migrating into the IDA park.”
He said that while that would require investment in specialised buildings and infrastructure “the potential and the know-how is there.”
“I would encourage any entity that wants to see jobs created in Fermoy, apply to this fund.
“We, as local politicians would support any such application,” said Deputy Sherlock.
“Mallow also needs to be marketed more and it is disappointing to see that there is no information available on site visits there. Mallow needs to be pushed up the food chain to attract FDI and indigenous business to the site,” he added.