€116 Billion Project Ireland 2040 Embraces Public Private Collaboration

Author:Ms Deirdre Nagle
Profession:Mason Hayes & Curran
 
FREE EXCERPT

By aligning the Irish State's much-needed infrastructure investment with a plan which guides public and private investment, Project Ireland 2040 aims to accomplish ten strategic outcomes.

Strategy

Compact growth

Compact urban and rural settlements, supported by jobs and services rather than further sprawl will be encouraged. A new €2 billion Urban Regeneration and Development Fund and a new National Regeneration and Development Agency will be established to promote a collaborative approach to development by the public and private sectors.

Enhancing and upgrading accessibility between urban centres of population and their regions to maximise the growth potential of the regional urban centres and in particular the North-West of Ireland.

Strengthened rural economies and communities

A Rural Regeneration and Development Fund of €1 billion will be created. This is intended to foster co-ordinated investment between State departments, agencies, local authorities, public bodies and the private sector where appropriate.

Sustainable mobility

Environmentally sustainable public transport systems will be favoured. Investment in public transport infrastructure will be accelerated. Projects proposed for delivery during the period to 2027 include the Metro Link, the DART Expansion Programme and BusConnects.

A strong economy, supported by enterprise, innovation and skills

The plan will also deliver a programme that is intended to strengthen growth and employment potential. The programme's focus is on balanced regional development through a number of initiatives including Technology and Innovation Poles and IDA property solutions, strategic sites and grants. This will be afforded to all regions in order to attract Foreign Direct Investment. A €500 million Disruptive Technologies Innovation Fund will be established to encourage collaboration between Ireland's research base and industry.

High-quality international connectivity

Significant investment in Ireland's airports and ports is central to the plan in the context of Brexit. This includes the current development of Dublin, Cork and Shannon Foynes ports and the second runway at Dublin Airport.

Enhanced amenity and heritage

The value of cultural heritage to attracting private investment and retaining talent is recognised and over €1 billion of funding is allocated to strategic investment priorities in this area.

Transition to a low carbon and climate...

To continue reading

REQUEST YOUR TRIAL