PROJECT 2040: A REAL GAMECHANGER

The National Development Plan demonstrates the Government’s commitment to meeting Ireland’s infrastructure and investment needs over the next ten years, through a total investment estimated at €116 billion over the period.

This level of capital spending will ensure ongoing employment maintenance and creation with appropriate regional development. It will also provide clarity to the construction sector, allowing the industry to provide the capacity and capability required to deliver Government’s long-term investment plans.

An Taoiseach Leo Varadkar maintains that Project Ireland 2040 takes a radically different approach to future planning by focusing not just on bricks and mortar, but on social, economic and cultural development. It links planning and investment for the first time in Irish history, balances rural and urban investment, and will avoid the mistakes of the past.
Three quarters of new growth will be outside Dublin, with 50% of the projected population growth planned for our towns, villages and rural areas and 50% for our cities. Dublin, our capital city, must grow up and not out. And it’s underpinned by a 10 year €116 billion National Development Plan. This is a dramatic increase in public investment for Ireland, and makes Ireland a European leader for investment, leaving behind the lost decade since 2008.

Above all, Project Ireland 2040 aims to Brexit-proof Ireland by investing in the future with a particular focus on the Border Regions. It includes four new funds designed to stimulate renewal and investment in rural and urban areas, the environment and innovation:
· €2 billion Urban Regeneration and Development Fund;
· €1 billion Rural Development Fund;
· €500 million Climate Action Fund;
· €500 Disruptive Technologies Fund.

There is also a significant focus on the environment with €22 billion allocated to tackling and dealing with climate change across transport, energy and commercial State agencies.

For a more extensive article see our March/April Issue of Irish Construction Industry Magazine available on subscription, contact Linda Doran accounts@mcdmedia.ie