Minutes of the Louth Economic Forum Tuesday, 19th October 2010 Cooley Room, Louth County Council, County Hall Attendance: 1. Padraic A. White Chair Louth Economic Forum 2. Conn Murray Louth County Council 3. Graham Hughes Chair, Drogheda Economic Forum 4. Graham O Rourke Drogheda Economic Forum 5. Ray Carroll Chair, Tourism & Heritage Forum 6. Niall O Lamhna Teagasc 7. Denis Cummins DkIT 8. Ann Cleary DkIT 9. Pat Doherty I.D.A. Ireland 10. Ronan Dennedy Louth County Enterprise Board 11. Bill Tosh Dundalk Economic Forum 12. John Kieran Ardee Business Community 13. Conor Fahy Enterprise Ireland 14. Paddy Malone Chair, Dundalk Economic Forum 15. Michael A. Curran Louth County Council 16. Michael McCabe Louth County Council 17. Edel O Mahony Louth County Council 18. Nick Heeney AIB 19. Paul Hughes AIB 20. Fiona Slevin AIB Apologies: 1. Kevin Kidney Failte Ireland 2. Patricia Rooney Drogheda Economic Forum 3. Declan Meally S.E.A.I 4. Ray Kelly FÁS 1
Agenda: 1. Presentation AIB Bank Supporting Business 2. Minutes of the meeting of 14 th September, 2010 3. Matters Arising 4. Update on Tourism & Heritage development in Louth 5. "DkIT - Draft Strategic Plan 2011-2013" 6. Education & Training Task Group Update 7. The Business of Ageing Forum 8. Update on the Broadband Task Group 9. Update on the follow up of published Action Plans 10. Next Forum Meeting Minutes The minutes of the previous meeting of the 14 th September 2010 were agreed. Padraic White welcomed all the members of the Forum to the meeting including representatives from AIB Bank Nick Heeney, Paul Hughes and Fiona Slevin. Presentation by AIB Bank A presentation was given to the Forum by Nick Heeney Head of Business Banking North East Key points highlighted by AIB were as follows Largest business bank in Ireland with 180,000 SME and Business customers. - Strong market share - Very substantial SME Loan Book SME s are major focus of Bank recapitalisation commitments SME Lending Plan commitment to lend additional E3bn in new and increased facilities to the SME sector in each of 2010 and 2011 Key focus is on supporting customers through the current economic cycle. AIB is committed to striking the right balance between our continuing supports for business and making proper, prudent business decisions. They acknowledge that the nature of interaction between bank and customer when applying for credit might be different and more rigorous than before. However, this shouldn t be interpreted as reluctance by AIB to lend, but more a desire to provide the most appropriate support to customers. AIB SME Lending Plan 2010/2011..underway Credit Training for staff Engagement with Enterprise Ireland & Irish Bankers federation New Emerging Sectors team E120m fund for IPF / Prompt Pay E60m Agri Asset Fund E500m SME Recovery Fund Additional E20m Seed Capital to the existing E53m fund 2
E150m EIB Fund Invitation to BoSI customers Sectoral Guides and expertise Internal Credit Appeals process in place External Credit Review office appointed by Government SME Lending desk Customer surveys Key discussion points raised were as follows AIB processed 52,000 applications last year down 20% Main activities are reviews and restructuring of existing loans as opposed to requests for new money Dundalk Chamber informed AIB that when advised 30% of its members did not get loans renewed by lending institutions Key task is to address marginal loans European Investment Fund covers IT Infrastructure, manufacturing, agriculture (purchase of new plant and machinery), Investment in research and development It was highlighted that AIB has no main lending strand for Tourism related development the second biggest industry in the Country. AIB made note of this and will bring this point back to head office to address. They advised the Forum that AIB would welcome any approaches from Community groups for funding for a good viable tourism related project. Provision of free banking and internet facilities for Start Ups as well as free financial advice is in operation for the first two years. Invoice discounting has been reduced from 1m to 100k A turn around time of 2 weeks for loan approval is the target for all applications AIB were congratulated by the Forum on their new structure and approach to domestic banking going forward. Tourism & Heritage Forum Update Ray Carroll advised the Forum of the new structured approach to tourism being taken by the County Manager and the Local Authority in conjunction with Meath County Council and Newry and Mourne District Council The new approach sees the appointment of a specific Boyne Valley Tourism and Marketing Officer who will be jointly managed by Meath and Louth County Council. In the North of the County a specific Mournes/Cooley Tourism and Marketing Officer again jointly managed by Louth County Council and Newry and Mourne District Council. Ray Carroll welcomed these two additional resources for tourism in the County, as well as the appointment of Senior Staff Officer Nessa McCartan with responsibility for driving the County Louth tourism agenda. 3
Dundalk Chamber congratulated the County Manager on this forward thinking positive move towards the development and promotion of tourism on a regional basis. Ray Carroll advised the members that Shaun Quinn CEO Fáilte Ireland will be attending the next LEF meeting on the 24 th of November at which the draft Tourism & Heritage Action Plan will be presented to him. "DkIT - Draft Strategic Plan 2011-2013" Overview Ann Cleary made a presentation to the Forum on the DkIT strategic Action Plan 2011 2014 The key points for consideration highlighted are as follows: What kind of a Higher Education Institute is needed? University status, T-Shaped Graduate, focus on sustainable living, community connected, specialist, regional development, financially sustainable, attractive to talent student, staff 3 pillars to the Strategic Plan 1. Knowledge Asset (Teaching, Learning, Research, Knowledge Transfer) 2. Community (Access, Life Long Learning, Social & Economic Innovation) 3. Organisation (All Resources People, Space, Funding, Business Approaches and Processes) Themes are addressed in each pillar Sustainable Development, Entrepreneurship, Community Engagement, International Engagement A copy of the draft strategic plan was given to each member of the Forum. Members have been asked to read the document and give feedback directly to Ann Cleary. This item will be kept of the agenda for further discussion at the next meeting. Education & Training Task Group Update Denis Cummins advised the Forum that the first meeting of this task group has been held. The group is chaired jointly by Denis Cummins, and Conn Murray LLA, Ray Kelly FAS, Padraic Kirk Louth VED, Ronan Dennedy LCEB, Hugh Doogan Louth Leader Partnership and Shivaun O Brien Louth VEC are also members of the group. The Terms of Reference for the task group were agreed by the Forum. Age Friendly Business Forum Edel advised the Forum that Malachy McCloskey has kindly agreed to Chair the Age Friendly Business Forum. She gave an overview to the Forum of the Age Friendly structure in place in Louth. Padraic White, Michael Curran and Edel O Mahony met with Malachy McCloskey, Ann Connolly, Director Ageing Well Network and Catherine McGuigan Regional Manager to agree the way forward. It has been agreed that a Ten Point Action Plan would be put in place for Age Friendly under the remit of the Louth 4
Economic Forum. Malachy McCloskey will also be invited to sit on the Louth Economic Forum. Edel O Mahony will provide administrative support to this Forum. Edel is to organise a visit to the Netwell Centre and the Barrack Street Project for both Padraic White and Malachy McCloskey as a way of introduction to Louth s AGE Friendly County. The Terms of Reference and Board Membership needs to be agreed for the next LEF meeting. The members of the Forum were invited to suggest possible board membership. It was agreed Rodd Bond and Andrew McFarlane from the Netwell Centre in DkIT should be invited onto the Board. Drogheda and Dundalk Chamber and Ardee Business Community were also invited to nominate a potential representative. Update on the Broadband Task Group Michael Curran updated the Forum on the progress made by the Task group at its last meeting. A presentation was given on the Kelvin Project by Martin Reilly from Hibernia Atlantic. The broadband survey results were considered and possible actions coming out of the results. It was agreed to look into the following actions To educate the business community using a mentors network of IT Consultants Information and pricing booklet on broadband for businesses An anchor tenant (eg Louth Co Council) would connect to the MAN and take, for example 100mb Local SME's would be offered the ability to connect to the anchor tenant by point to point wireless taking perhaps10mb each For every tenant the bandwidth would be stepped up Any active equipment (router wireless units) and support costs could be divided across all those participating The advantage for the SME would be uncontended bandwidth and greatly reduced costs Update on the follow up of published Action Plans A review day was held on the 18 th of October with Padraic White, Edel O Mahony and the Chairs of the published action plans. Ede distributed a report updating the forum members on the progress of each action plan AOB The Discovery Zone programme launch was held in the Regional Development Centre DkIT on the 4 th of November last. An information document was circulated to the Forum by Edel on the details of the programme. 5
Date of the next meeting: The next meeting will take place on wednesday the 24 th of November in An Grianán, Termonfeckin 2.30pm Presentation on the draft Tourism & Heritage Action Plan to Shaun Quinn CEO Fáilte Ireland 4pm regular LEF meeting MONTHLY ACTION PLAN NO ACTION RESPONSILBILTY STATUS 1. Presentation of the Tourism & Heritage Action Plan to Shaun Quinn CEO Fáilte Ireland for 24 th November Ray Carroll Edel O Mahony In place for November 24 th meeting 2. Age Friendly Business Forum Update Edel O Mahony November meeting 3. "DkIT - Draft Strategic Plan 2011-2013" Feedback from Forum 4. Education & Training Task Group update Denis Cummins Denis Cummins November meeting November meeting 5. Action Plan progress updates 1. Pat Doherty 2. Declan Meally 3. Conor Fahy 4. Michael McCabe Monthly progress update required 6. Presentation on draft Making Louth the Best County to do Business 7. Discussion on the establishment of the Agriculture and Fisheries Task Group Michael McCabe Niall O Lamhna December meeting January meeting 6