23 May 2022

IDA defends investment record as it leases two acre plot for grazing

grazing-animals jpg

IDA bosses have rubbished fears over Longford's ability to attract major multinational companies from overseas after deciding to lease a prime two acre parcel of land for grazing purposes.

The State's inward investment agency opened offers this week for expressions of interest into the leasing of two acres of land at Aghafad in Longford town.

The proposed arrangement would see the site being leased for a two year period with a one month termination clause inserted should the lands be required by the IDA in the interim.

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In a statement, the State agency insisted there was nothing untoward in leasing out sites for agricultural designs and was not a negative indicator of Longford's appeal to multinational operators.

“IDA Ireland from time to time lets some of its lands for grazing purposes for fixed amounts of time,” read a statement.

“This does not in any way affect IDA’s efforts to market sites to potential investors and this site will continue to be marketed for that purpose.

“The land is let with a condition that the agreement with the leasee be terminated with one month’s notice should the lands be required in whole or in part by IDA Ireland.

“IDA Ireland will continue to market Longford for mobile Foreign Direct Investment (FDI).”

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