IDA links with Northern Ireland
Cullen asked about cooperation between the IDA and Northern Ireland’s development authority and the potential for supplier jobs in the South. Reynolds said the IDA would not match the price paid for the Northern project, as it did not offer value for money.
How close is the relationship between the IDA here in the South and the development authority in the North? Would the Minister agree that companies coming into this country, particularly the Japanese firm which has gone to Northern Ireland, have an knock on effect in the South for creating quite a number of jobs in the servicing of some components into that industry? Would he agree that it is very important that a very good relationship should exist? What pressure is he putting on the IDA to keep that on an ongoing basis to develop servicing industries on to main industries?
Comment on this
I am very familiar with the project the Deputy speaks about. The IDA, rightly, were not prepared to pay the price that was paid up there. So little of promoters' money is required that I would not touch it with a 40 foot pole. We are looking for value for money and we are interested in the spin-offs and the overall benefits to the national economy; off-spin, direct and indirect, we calculate the total. There are certain projects we are not prepared to pay the price for.
