Latest news with #PeterBurke
Irish Times
3 days ago
- Business
- Irish Times
IDA Ireland to spend ‘very significantly more' than €100m on site for FDI
IDA Ireland will spend 'significantly more' than €100 million to develop the first of three planned 'next generation sites' around the State, according to Minister for Enterprise Peter Burke . It is understood to be targeting the computer chip sector. The agency, charged with sourcing foreign direct investment for the State, plans to 'develop up to three significantly larger scale, pre-permitted developments' in regional locations, it disclosed in a five-year programme published in February. Speaking in advance of Enterprise Ireland 's Food Innovation Summit in Croke Park, on Wednesday, the Minister said the cost of acquiring the sites would be 'very significant'. 'We will be, in the next couple of weeks, bringing a very significant proposal to Cabinet for our first large scale next generation site,' he said, adding that it would be a site in the west of Ireland, capable of attracting a 'significant company of scale'. READ MORE It would, Mr Burke said, be a 'very strong competitive offering' to foreign direct investment. Asked whether the sites were being earmarked for computer chip manufacturers, the Minister said: 'The KPMG report [into the outlook for Ireland's semiconductor sector] sets out an absolute opportunity here of getting an additional workforce of over 30,000 by 2040, which would be very significant for the sector. 'Right through Covid, we saw significant blockages in manufacturing. We saw blockages in the automotive sector brought to a standstill. Why? Because of a lack of chips. Chips are so important to the digital economy. 'Obviously, the geography of Ireland is very attuned to semiconductor activity, but also need utilities and you need a very significant capacities, and infrastructure,' he said. The Government is looking at 'putting together a war chest for two more additional sites' with pathways to be 'utilities rich' in tandem with the National Development Plan Review, the Minister said. 'The cost will be very significant' given the cost of achieving utility connections with 'the way the site is structured', he said, though he declined to go into specifics on cost of the first site. Asked if it would be more than €100 million, the Minister said: 'Oh, very significantly more than that.' 'We need strategic forward planning to enhance our offer to investors,' the IDA said. 'Ireland must fundamentally reposition its offering to develop a select number of significantly larger-scale solutions in order to be competitive in attracting the next generation of very large-scale, sustainable, capital-intensive FDI.' IDA chief executive Michael Lohan said the sites would be between 500 and 1,000 acres in size but had not yet been identified.
Irish Independent
3 days ago
- Business
- Irish Independent
Cabinet gives NDRC one-year reprieve
In 2024, the Department of Communications had decided to stop giving the programme an annual grant of €3.5m when the current contract ends in November, which was likely to lead to its closure. The decision was widely criticised, with 200 entrepreneurs writing an open letter to the Government calling for it to be reversed. Set up in 2006 as a collaboration between the State and the private sector, the NDRC has been run for the last five years by Dogpatch Labs and four regional partners. Today the Minister for Enterprise, Peter Burke, and the Minister for Communications, Patrick O'Donovan, announced that the Government had approved an extension of the NDRC with the current service provider, Dogpatch Labs, and that it will continue to give supports to early-stage digital enterprises until the end of 2026. Enterprise Ireland is planning to support 1,000 new start-ups by 2029, the Government announcement said, and will launch a successor National Accelerator Platform in 2026. This platform is in an advanced stage of development, and 'will reflect the new and evolving needs of founders, enhance sectoral diversification and international connectivity'. Mr O'Donovan said that NDRC had been a high-performing support for digital start-ups, providing mentoring, training and investments, and helping with the creation of high-value jobs. The Enterprise Minister, Mr Burke, added that the decision would ensure continuity of service, and provide a stable foundation for the long-terms successor being developed by Enterprise Ireland. 'We must continue to back the global ambition of Irish-founded innovation-led start-ups, particularly in a challenging global economic climate,' he said. 'To do so, my Department through Enterprise Ireland will develop a system-wide approach that accelerates start-up growth, internationalisation, and scaling.' The decision is intended to provide certainty to firms that have been helped by the NDRC, and to ensure there is no interruption in State support for the digital sector. An independent review of the NDRC, submitted to the Department of Communications in June 2024 but only published in December, was overwhelmingly positive about its operation. The Department had commissioned Indecon to examine whether Dogpatch's contract should be extended for another two years. The consultants concluded that Dogpatch Labs should get a two-year extension, as the evidence pointed to 'substantive achievement of the NDRC's strategic objectives' between late 2020 and the end of 2022. 'The analysis also found satisfactory outputs and outcomes, as well as improvements compared to the previous operator,' said the Indecon report, which was received last June but only posted on almost six months later.
Agriland
3 days ago
- Business
- Agriland
Food innovation summit set to take place in Dublin
Enterprise Ireland is hosting the Food Innovation summit at Croke Park, Dublin, tomorrow, Wednesday, June 18. The summit is titled 'Feeding Innovation: Collaboration, Disruption and Growth,' and aims to raise awareness among food companies of the importance of investing in research, development, and innovation to achieve sustainable and profitable export growth. Attendees will have the opportunity to hear from Irish companies, start-ups, international speakers, panel discussions, and to network with experts in food innovation. The Minister for Enterprise, Tourism and Employment, Peter Burke will provide an opening address, followed by a number of panels discussing topical issues in the food industry. Speakers on the panels include: John O'Connell, West Cork Distillers. Elaine Bourke, Kepak. Professor Carel Le Roux, St Vincent's Hospital. Tom Keogh, Keogh's Crisps. Michelle Vance, Lily O'Briens. Ailish Martin, Sainsbury's. Tom Kearney, Spice O'Life. Emma Cahill, Glenhaven Foods. The summit will run from 9:15a.m until 4:00p.m. Registration opens at 8:15a.m at Croke Park. Food Separately, the price of a pound of butter at the checkout rose on average last month by €1.03, according to new figures released by the Central Statistics Office (CSO) last week (June 12). Shoppers also paid more for Irish cheddar which increased by 57 cent per kg while two litres of full fat milk also jumped by 27 cent in May. Overall consumer prices in Ireland rose by 1.7% between May 2024 and May 2025 latest figures show. According to the CSO the biggest price increases recorded over the 12 months to May 2025 were in relation to food and non-alcoholic beverages – which rose by 4.0% while alcoholic beverages and tobacco also increased by 3.1%. The Consumer Price Index is designed to measure the change in the average level of prices – inclusive of all indirect taxes – paid for consumer goods and services in Ireland. According to the CSO, while there was an increase in the price of an 800g loaf of white or brown sliced pan – which rose by 5 cent, there was a fall in the price of a 2.5kg bag of potatoes – which dropped by 25 cent last month when compared with similar prices for May 2024.
Irish Post
5 days ago
- Business
- Irish Post
Global building engineering and consulting firm Introba opens first Ireland office
INTROBA, a global building engineering and consulting firm, has announced the opening of its new office in Dublin, marking the company's first location in Ireland. The company, which creates smart, secure, resilient and connected living systems, currently employees more than 1,000 people around the globe. With support from IDA Ireland, the new Dublin office will create 30 new roles over the next five years, many of which will focus on sustainability and climate-focused engineering services. "Introba's expansion into Dublin is a natural extension of our mission to engineer a better, more sustainable world," said David Glossop, Managing Director for the UK and Europe. "We're proud to bring our expertise to Ireland and to support ambitious national goals around the built environment and emissions reduction." Developing local talent Introba's arrival in Ireland marks a key step in the firm's European growth strategy. It also reaffirms its commitment to developing local talent and delivering engineering services that contribute to a more sustainable built environment. The Dublin team will help Ireland's transition to a low-carbon economy, aligning with national climate goals of reducing greenhouse gas emissions by 2030 and reaching net zero by 2050. Initially, the team will provide sustainability advisory, mechanical and electrical engineering services to institutional, cultural, commercial and science and technology sectors. Green innovation Minister for Enterprise, Tourism and Employment, Peter Burke, said the firm shared the government's vision of a greener Ireland. "Congratulations to Introba on the opening of their first Irish office," he said. "The office will create 30 new sustainability and climate-focused engineering jobs in Dublin over the coming period, providing great opportunities for our talented engineering graduates. "Introba's focus is very much in line with the Government's climate agenda, and we remain committed to supporting such initiatives. "I wish to welcome the team and thank them for choosing Ireland for this investment." His words were echoed by Michael Lohan, CEO of IDA Ireland, who said: "We are pleased to welcome Introba to Ireland as they open their first office in Dublin and announce plans to create 30 new jobs. "Their sustainability-driven approach aligns well with Ireland's climate objectives and IDA Ireland's new strategy. "Introba's presence in Ireland strengthens the green innovation ecosystem here and we look forward to supporting their continued growth." See More: IDA Ireland, Introba, Peter Burke
Irish Times
13-06-2025
- Business
- Irish Times
Michael Carey steps down as chair of Enterprise Ireland and Housing Agency
Businessman Michael Carey has stepped down from his roles as chairman of both Enterprise Ireland and the Housing Agency . This follows recent media reports highlighting the fact that his company, biscuit maker East Coast Bakehouse , where he is a major shareholder and executive chairman, is late in filing its accounts to the Companies Registration Office as required by law. He took the decision to avoid any embarrassment for the ministers involved, James Browne in housing and Peter Burke in the Department of Enterprise. In a statement, Mr Carey said: 'This has occurred due to management administrative errors. The delay has been exacerbated by an unanticipated need for a decision by our board to change our auditors. READ MORE 'There is no suggestion of any financial issues at the company; the accounts for these periods are completed and the fully audited accounts are expected to be filed in the CRO by early July.' It is understood that Big Four accounting firm EY was recently appointed as the company's auditor. [ Creating billion-euro businesses with global scale a key goal for new Enterprise Ireland chairman Opens in new window ] Founded in 2016, East Coast Bakehouse employs 100 people at its manufacturing facility in Drogheda, Co Louth. Mr Carey said the business was 'growing rapidly' and has recently completed a successful fundraising round securing €5 million in equity. 'Following this successful fundraising and a recent management restructure, I am returning full time to the business as chief executive to lead its next phase of scaling,' he said. Mr Carey acknowledged that the late filing of East Coast Bakehouse's accounts could be a distraction for the agencies. 'I accept personal responsibility for the failure of the business to comply with this corporate governance requirement and the heightened requirement to fully comply, as chairman of a number of state boards. 'A late filing fee will be paid as appropriate and actions have been taken to avoid any future reoccurrence. Will rent reform make building apartments viable? Listen | 40:12 'In order to avoid embarrassment to the ministers and any distraction from the crucially important jobs undertaken by these two agencies, I will step aside from these roles with immediate effect.' 'I would like to thank the respective Ministers and their teams, the board members and dedicated executive leadership teams of these agencies for their support over the past number of years and wish them well in their future continued progress,' he said. Mr Carey noted that the two positions were unpaid with no expenses drawn. He was appointed as chairman of The Housing Agency in 2018 by then Minister for Housing Eoghan Murphy and reappointed for a second term by Minister Darragh O'Brian in 2023. His term was due to end in 2028. He was appointed as chairman of Enterprise Ireland by then Minister for Enterprise Simon Coveney in 2023, and his term was due to end in 2028. He was previously chairman at Bord Bia from 2011 until 2017. Enterprise Ireland and the Housing Agency have been contacted for comment.
