Make up a mnemonic to remember the factors that influence the location of an industry.
A mnemonic uses the first letter in each word to help you remember something. For example, we can use ‘Richard Of York Gave Battle In Vain’ to remember the colours of the rainbow.
Question Time
1. (a) Identify the nearest industrial estate to where you live. (b) List the types of industries found there.
2. (a) Locate a potential greenfield site in or near your local area. (b) List three reasons why this greenfield site might be suitable for the location of industry.
3. Explain the link between raw materials and transport when choosing location of industry. 4. Give two reasons why it is an advantage to locate an industry close to a town. 5. How does money in the form of capital and corporation tax influence the location of industry?
Government Supports
There are two Irish government organisations responsible for supporting, promoting and developing Irish industry: the Industrial Development Agency (IDA) and Enterprise Ireland.
IDA Ireland IDA Ireland partners with overseas companies to secure new investment to set up in Ireland. This investment is known as foreign direct investment. IDA does this by:
Collaborating with foreign investors in Ireland to help them expand and develop their operations here
Offering funding and grants to those considering setting up in Ireland.
Enterprise Ireland Enterprise Ireland is the government organisation responsible for the development and growth of Irish businesses in world markets. It does this by:
Funding supports – a range of supports for start-ups and business expansion plans
Providing information about local markets and introductions for Irish companies to international customers
Helping companies to become more competitive in international markets
Providing incentives to carry out research and development in new products, services and processes.
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FUN FACT! In 2020, there were 269,208
people employed in foreign-owned companies in Ireland and 216,695 in
Irish-owned companies that received assistance from the IDA and Enterprise Ireland.