Use FDI to tackle South Tipp unemployment blackspots
The IDA's new policy of directing Foreign Direct Investment to areas outside the main cities should be used to create employment in South Tipperary, according to one local Oireachtas representative.
Senator Phil Prendergast has said that last week's IDA announcement should be used to target unemployment blackspots in the county.
The IDA announced last week that it will direct 50% of Foreign Direct Investment (FDI) to areas outside Dublin and Cork.
Senator Prendergast said: "South Tipperary has seen one of the sharpest rises in unemployment in the country since the economic collapse. The number of people signing on increased by 80% across the county in the past 12 months.
"By the end of last year, Cahir had the highest annual increase in the country of 115%, and Cashel had nearly doubled. Tipperary town and Carrick - where over half the working population is signing on - had lower rates of increase but that was because they were already unemployment blackspots before the bust.
"There have been job losses locally at firms like Bulmers, Moy Isover and Quinn Merriot; and numerous shops have also closed. Because of our geographic location between Limerick and Waterford, job losses at places like Waterford Crystal and Dell have also had a severe effect on South Tipp.
"The IDA's new Horizon 2020 strategy is welcome but it must account for the fact that many people do not live in the same region as their place of work. So the IDA has an opportunity to address one of the failings of the Celtic Tiger years which was long commutes by also directing FDI towards areas on the fringes of the targeted regions.
"If the Government is serious about creating work in unemployment blackspots such as Carrick and Tipperary town, it should also act on figures this week that show over half of businesses were refused bank loans in the past three months.
"A comprehensive job-creation policy is needed, of which the new IDA strategy can only be one part. We're bailing out the banks, so the Government should insist they to use some of that money to put back into our economy instead of fattening up their share price.
"Likewise, a large-scale public works programme should be introduced to address the loss of half of all construction jobs in the past two years," Sen Prendergast said.
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Saturday 04 February 2012
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