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October 1, 2008

Exchequer should fund project at Cork docks, says report

The Exchequer should fund hundreds of millions of euro worth of infrastructure, including bridges and roads, to kickstart the development of Cork docklands, according to an influential report. In addition, the Government should heed long-standing demands from Cork that major tax incentives to back the project should be included in this year’s budget. Local politicians, Cork City Council, developers and others had all hoped for major concessions last year, but they failed to materialise. In all, 615 million will have to be spent up to 2020 on three bridges, three roads, public transport, water, schools etc, according to the Cork Docklands Forum. Chaired by former UCC president Prof Gerry Wrixon, the group set up by the Government late last year includes local representatives but, crucially, was dominated by departmental officials. The potential of the docklands project – the biggest proposal since the International Financial Services Centre in Dublin 20 years ago – is hugely significant, the document says.

The Irish Times

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