A report from the Western Development Commission has found that state investment of just over €30m has generated more than €10b in economic activity.
It also found that the Western Investment Fund has cumulatively supported nearly 100,000 job-years.
The report on the impact of the Western Investment Fund was independently researched by Indecon International Economic and Strategic Consultants on behalf of the Commission.
It found that over 25 years since the fund began in 2001 it has generated €10.8b in economy-wide revenue, returned €635m to the Echequer, and cumulatively supported nearly 100,000 job-years, all from an original outlay of €31.75m.
The WIF, which invests on fully commercial terms across counties Mayo, Galway, Sligo, Roscommon, Leitrim, Donegal, and Clare, currently supports over 6,000 full-time jobs in the region.
Launching the WDC Report today, Fianna Fáil TD for Mayo and Minister for Social Protection Dara Calleary said; “The Western Investment Fund has played a vital role in unlocking economic potential across the Western Region since 2001.
“Every investment,” he continued, “through the Fund represents jobs created, families supported, and communities made more vibrant and resilient.”