16 May 2019 No Comments by The Northern Standard

The following opinion piece has been kindly supplied by Tom McEneaney, a business columnist for The Irish Times, who hails from Shercock. The article mentions the new IDA office for Cavan, Monaghan and Louth, and originally appeared in The Times:

“If all of the research around Brexit and its effect on Ireland has established one thing, it is that there is one Irish region more exposed to an outside shock than any other. It is the same region that in employment terms has experienced the slowest recovery from the Great Recession, has seen FDI jobs numbers fall over the past 10 years and that languishes behind every other Irish region on almost all economic metrics.

“We are speaking of Cavan/Monaghan, which for comparison purposes is often lumped in with thriving neighbours such as Meath or Louth so that decades of political neglect are effectively disguised. “I am not without bias on this issue. As a Cavan native I have seen that neglect at first hand, but if you think for a moment by own background has skewed my impartiality I ask only that you look at the figures which establish beyond doubt that if Cavan/Monaghan were a young child we would currently be calling in a social worker.

“Earlier this week, in its economic outlook for the first quarter of this year, Ibec highlighted that although around 8pc of jobs in Irish cities are exposed to a hard Brexit, in Cavan/Monaghan almost three of out of 10 jobs are in exposed sectors. “Reams of reports have told us that Brexit, whether hard or soft, will have a detrimental effect on the Irish economy but what those reports often miss or gloss over is that Brexit, especially a hard Brexit, will significantly reinforce the already-entrenched economic divide between urban and rural Ireland.

“Edgar Morganroth, a DCU economics professor whose home is in Monaghan, estimates that one in 12 jobs will be lost in Cavan/Monaghan in the event of a hard Brexit. “Urban Irish economies will bounce back with gusto just as they did from the Great Recession and the dot-com bubble and every other economic setback of recent decades. “Dublin has already recovered almost 99pc of the jobs lost since 2008.

Across the State employment, according to Ibec figures are at 95pc of 2008 levels. “In rural areas, however, most especially in Cavan/Monaghan, the hit will be at best long-term and, at worst, permanent. “In border areas employment levels are still at less than 90pc of what they were 11 years ago.

“Later this morning I understand IDA Ireland will make its latest jobs announcement; yet another big technology name has been persuaded to employ several hundred new people in Dublin. As Minister for Business, Enterprise and Innovation, Heather Humphries will likely make the announcement. As a TD for Cavan Monaghan she will be mindful that over the past decade the number of IDA jobs in Cavan has fallen from 1,249 to 1,203, while…

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