A "major accelerated" increase in investment in research, technological development and innovation is to be supported with a provision of £1.9 billion. The investment is aimed at strengthening the capacity of third-level institutions and other research establishments to conduct research relevant to the needs of the economy; to strengthen the capacity of Irish firms to assimilate the results of R&D into their products and processes; and to provide support for sectoral research in agriculture, food, the marine and the environment.
A further £1.9 billion is being allocated to industry. The investment programme aims to address a number of identified problems facing indigenous firms including limited growth outside the UK market, continued reliance on traditional products, the proliferation of small-scale enterprises, and insufficient spending on human resources and R&D.
The investment in industry will also seek to provide an integrated response to the needs of all indigenous firms across all sectors through, where appropriate, the implementation of business development plans by the development agencies.
Marketing is to receive an allocation of £337 million. The investment is aimed at increasing the level of exports in the indigenous sector, with an emphasis on small and medium enterprises and market diversification. The programme will also concentrate on the marketing of firms disadvantaged by their peripheral location, and on assisting sectors that have yet to fully embrace marketing.
A higher level of regional state aids is permissible in the Border, midland and western region than in the south and east region. The plan includes a commitment that IDA Ireland will seek to ensure that more than half the new jobs will be there.
