Business people and politicians in Co Offaly have welcomed a new €6 million community and enterprise fund established by the ESB to compensate for the recent closure of two of its power stations in the county.
The Minister for Foreign Affairs, Mr Cowen, said he commended the ESB on the initiative, which follows the closure of facilities at Rhode and Ferbane.
The Tullamore-based deputy said the money, which the ESB had donated in recognition of its long-standing relationship with the county, would provide opportunities for local investment.
The county manager, Mr Niall Sweeney, who this week announced the second of two local authority panels to manage the fund, said the money would be focused on west Offaly, Edenderry and other parts of the county which were in particular need of investment.
Both public figures were speaking yesterday at a business breakfast in Dublin aimed at promoting Offaly as a location for industrial development. Hosted by Atlantic Corridor Ireland, an enterprise group incorporating partners from upstate New York , southern Ontario, lower Bann in the North and the midlands in the Republic, the meeting heard from Offaly investors who described the county as "one of the hidden gems of Ireland".
Mr Gerry McCaughey, chief executive of Century Homes, said Tullamore, "a bustling, industrious, prosperous town", was where he wished to locate the company's latest production plant. He used the occasion to announce an increase in the company's investment in the plant with the purchase of seven acres of land, rather than four, from IDA Ireland for the development of a 1,000 sq ft facility.
Mr McCaughey said the plant would create a minimum of 120 jobs over the next five years, adding that the only thing to stop it becoming the company's headquarters would be the supply of qualified workers.
Mr Michael Kenny, a local architect and developer, said Offaly had advantages over other counties for investors and residents. The price for four-bed quality homes in the county was about €157,000, compared to €300,000-€400,000 in Dublin. Industrial space cost just €78 per sq ft compared to €120-€140 in Dublin, he added.
Mr Kenny urged the county council not to saddle industry with excessive service charges and development levies which could cause local businesses to suffer. He said there had already been a drain of investment from the midlands, which would happen further if levies were increased too much.
Mr Sweeney said he believed investors could be very pleasantly surprised at how easy it was to do business with the local authority. "It's probably unfair to say we are more obliging than other local authorities - the planning Acts are there for everyone. But the attitude we have is one of openness and willingness to engage in planning discussions."
Chairing the meeting was the former editor of The Irish Times, Mr Conor Brady, from Tullamore, who praised Atlantic Corridor Ireland for playing a "remarkable" role in promoting the county.
An ESB spokesman noted that, despite the closure of the two power plants in Co Offaly, the company remained the largest industrial investor in the county, with €250 million spent on the construction of a peat-burning station at Shannonbridge.
