Irish regional investment must be progressed without delay in order to halt the “growing imbalance” between Dublin and the rest of the country, Ibec has said.
Launching a new report measuring economic realities across Ireland, the business representative organisation said the national planning framework has the capacity to address problems but an all-Ireland approach toward investment is now essential. The planning framework, set out earlier this month, will attempt to map the State's population growth over the next quarter century and spread development towards the regions.
Ibec’s document “Local Economic Indicators 2017 – Doing Business Locally” is published on Wednesday and is aimed at policy and business leaders. It uses public data to analyse 31 local authority areas taking into account a breakdown of skills, broadband and transport connectivity, employment, tourism, enterprise agencies and local government finance.
Per capita, it found Cork benefitted most from IDA supported jobs, Monaghan for Enterprise Ireland-supported jobs, and Longford for local enterprise office-supported jobs.
Education
The report found that students required more incentives to engage in science and technology education in order to promote job creation in some regions.
In the southeast and the midlands just 6 per cent of the labour force had a degree in those fields, below the national average of 7.3 per cent. Businesses and households in the Border, midlands and west (BMW) region were discovered to be comparatively disadvantaged by poorer access to transport and broadband infrastructure.
In the west, overseas tourism revenue was the strongest on a per capita basis, although Dublin and Cork generated more revenue than all other local authorities combined. Perhaps unsurprisingly, tourism revenue was strongest along coastal cities, particularly Dublin, Galway, Limerick, Clare, Kerry and Cork.
"Our population is expected to grow by as much as 30 per cent over the next 25 years, yet we have the lowest capital investment in infrastructure across the EU," said Ibec senior policy executive, Aidan Sweeney at the launch of the report.
Framework
He said the findings were an indication of a need to progress the national planning framework without delay. “It has the capacity to address the economic and social challenges shown in our report, but only if it is underpinned by an all-Ireland approach to planning and increased State investment in transport, broadband, water services, health and education infrastructure.”
A detailed breakdown of economic indicators show the Dún Laoghaire Rathdown district in south Co Dublin to have the highest proportion of third level graduates (55.1 per cent) as compared to Longford with the lowest (24.1 per cent).
Fingal in north Co Dublin boasts the highest rate of broadband in premises (71 per cent), far in advance of Leitrim (51 per cent).
“If we invest wisely now, all regions will benefit in the years to come and business will create more jobs locally,” said Mr Sweeney.
