THE COUNTRY’S only regional development agency – Shannon Development – “shouldn’t come under the radar” of “An Bord Snip Nua” according to the company’s chief executive.
Speaking at the launch of the agency’s annual report for 2008, Vincent Cunnane described the company as a self-financing organisation.
“We generate our own income from the assets that we operate on behalf of the State,” Mr Cunnane said.
“We get a very small amount of funding from the Government, less than €1 million and we are a €30 million organisation, so there’s very little public sector Exchequer funding that makes its way to Shannon Development,” explained Mr Cunnane.
“So if the primary focus of An Bord Snip Nua is to look at Exchequer funding, then Shannon Development shouldn’t be in their radar,” he said.
Mr Cunnane also questioned the rationale of amalgamating Shannon Development into a so-called super agency with the IDA and Enterprise Ireland.
“National agencies have delivered for the larger urban areas and regional development is different,” he said.
Mr Cunnane urged that the regional development model be expanded to help the country’s economic recovery and to securing future economic growth.
“As a regional economic development agency, Shannon Development has a unique added value dimension.
“We operate in different sectors to generate regional benefits that cannot be delivered under the traditional centralised single sector approach to economic development,” he continued.
During 2008, Shannon Development succeeded in signing 35 major tourism marketing agreements with key travel companies worldwide.
These initiatives resulted in over 426,000 additional bednights for the Shannon region and boosted visitor spend in the area by over €43 million.
Making the region more self-sufficient in energy through its gas storage plant at Ballylongford, and accelerating broadband penetration in towns and villages from Offaly to Kerry, are among Shannon Development’s key aims for this year.
In 2008 the company completed an €18.5 million investment to accelerate broadband penetration, making broadband connectivity a reality in eight Shannon region towns and Limerick city.