The future of Wexford’s economy and infrastructure came under discussion last night at the political leaders summit held by the Wexford Chamber in the National Opera House. MC on the night was former Minister Ivan Yates. Labour TD George Lawlor, Sinn Fein TD’s Fionntan O Suilleabhain & Johnny Mythen, Fine Gael TD Brian Brennan, Fianna Fail TD Malcolm Byrne, Senator Cathal Byrne and MEP Cynthia Ni Murchu were in attendance.
There was particular focus on the development of key sites such as Trinity Wharf and Gorey’s Advanced Factory. The potential for attracting Foreign Direct Investment (FDI) to the region is central to these discussions, given the Southeast’s historically low per capita FDI job numbers.
One of the central topics discussed was the Trinity Wharf development. While some see it as a prime location for growth, others remain skeptical about its potential. Ivan Yates, who had previously described Trinity Wharf as a potential “white elephant,” expressed reservations about its viability. He pointed out that counties like Kilkenny and Waterford are already positioning themselves as growth centers within the Southeast Technological University (SETU) network, and Wexford needs an unrelenting push to gain traction. Trinity Wharf, a 10-acre site in Wexford, is considered one of the finest development locations in the country. Initially purchased for €10 million, the site was later bought by Wexford County Council for €700,000 following the economic collapse. The site is seen as a major opportunity to boost Wexford’s economy with potential for office spaces, a hotel, and a convention center. However, for Wexford to fully capitalize on this asset, there’s a need for a shift in mindset from local authorities and the IDA (Industrial Development Authority) to ensure that the region attracts more FDI.
The Role of FDI and Government Support
Recent reports show that Wexford and Wicklow have had the lowest IDA visits in the past three years, raising questions about what the region is lacking to attract foreign investment. While Wexford has adequate graduate numbers a change in approach is necessary to overcome the historical challenges of FDI in the area.
Efforts to attract business to Wexford should also include investment in offshore energy. The announcement of a €300 million investment in Cork Harbour for offshore renewables was seen as a step in the right direction, but stakeholders argue that this is just the beginning, and Wexford should be positioning itself for similar developments.
The Importance of Housing and Infrastructure
Housing and infrastructure remain a pressing issue for the region. Despite significant development, the planning system remains outdated. A lack of access to essential services such as water for housing development is a common obstacle. There’s a need to simplify the planning process and invest in critical infrastructure to address Wexford’s housing crisis. Additionally, modular housing and vacant dwelling refurbishment should be prioritised to meet the demand for affordable homes.
Tourism and the Cost of Doing Business
Wexford’s tourism industry faces challenges with rising operational costs, including energy, insurance, and product costs. To ensure the sector remains viable, there’s a call to reduce energy costs and streamline regulatory processes. However, businesses in the hospitality sector are struggling to maintain profitability, and without urgent attention, there’s concern that some might close.
The Optimistic Takeaways
Despite the challenges, the event was seen as a positive step forward for the county. Paula Roche, CEO of Wexford Chamber, noted the importance of Wexford’s unified voice. As Wexford moves forward, the key message is that real change takes time, but consistent, collective effort will drive progress. While Minister James Browne was unable to attend the event, plans are in place for future meetings to discuss action points and set achievable milestones for the county’s development. While Wexford faces significant challenges in terms of infrastructure, investment, and regional development, there is a strong sense of hope and determination from both local leaders and business representatives.
