Martin promotes National Development Plan proposed spending of €13.6 billion investment in Enterprise

Irish
Martin promotes National Development Plan proposed spending of €13.6 billion investment in Enterprise
By Finfacts Team
Jan 26, 2007, 10:24

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Purification train at Wyeth's new biotechnology campus at the Grange Castle International Business Park in Clondalkin, Dublin, Ireland Photo: Pharmaceutical-technology.com

An Taoiseach Bertie Ahern has joined Micheál Martin, TD, Minister for Enterprise, Trade and Employment today in Cork as part of the announcement rollout of the National Development Plan 2007-2013 that began last Tuesday. Today, Martin announced details of a €13.6 billion investment in Enterprise by the Government under the National Development Plan.

Outlining the investment Martin said there are key areas which his Department will be focusing on:

Creating and sustaining high value jobs
Growing Ireland’s exports through Irish Enterprise and foreign direct investment companies
Upskilling workers through the National Skills Strategy
A doubling of funding for the Strategy on Science, Technology and Innovation

The Minister explained that the investment includes €7.7 billion for training and upskilling our people, €3.3 billion in Enterprise Development and €2.7 billion as part of an overall investment of €8.3 billion in Science, Technology and Innovation.

Speaking at a news conference in Cork, Minister said “This overall investment will allow us to transform Ireland and provide ‘a better quality of life for all’. I look forward to driving the delivery of key Enterprise, Trade and Employment commitments in the new NDP so that we can build on the progress made under the last Programme.”

“The presence of the Taoiseach underlines the Government’s commitment to ensuring Ireland remains a location for high quality jobs into the future,” concluded Martin.

The level of Investment in Human Capital – or on upskilling our rapidly growing work force - will be targeted in two main strategic directions. Approximately €2.8 billion will be invested in upskilling people in employment - including new skills for those affected by industrial restructuring – as well as an expansion and enlargement of the apprenticeship system and further training for school leavers. Approximately €4.9 billion will be provided to target employment and training services to groups currently outside the workforce, including the unemployed, people with disabilities, women, lone parents, Travellers and ex-offenders.

Martin said that in an increasingly competitive world, a greater proportion of the country’s wealth creation will, in future, have to be generated by indigenous companies with the potential to grow and to conquer international markets. In order to compete successfully in global markets in a range of high value sub-sectors, Irish-owned business must grow and develop to their full potential. To this end, indigenous enterprise, supported by Enterprise Ireland and the County and City Enterprise Boards, will enjoy Government investment of almost €1.7 billion over the Plan period, while over €1.6 billion will be invested in supporting Foreign Direct Investment policies and initiatives.

Science Foundation Ireland will be delivering investment of €1.44 billion over the course of the 2007–2013 NDP.

"This is just part of the Government’s commitment to the Strategy for Science Technology and Innovation, launched by the Government last summer with total NDP investment of €8.3 billion over the lifetime of this new Plan," Martin said.