Waterford TD, Mary Butler has said that if the Government are serious about kick-starting an economic recovery in the South East they will put their money where their mouth is and provide the funding needed to get the North Quay development up and running.
Deputy Butler was commenting as it became apparent that the project by the Alhokair group from Saudi Arabia will not get over the line unless investment from the State is made available.
“The upshot is that unless the State provides about €55-60 million, in addition to the €5-10 million from Waterford City and County Council, the project won’t be anything other than a missed opportunity for Waterford and the South East Region.
“The Alhokair group are willing to put up the vast majority of the capital needed, about €220 million, but they need support from the State.
“The City and County Council have done an amazing job in getting the project to the current stage. We now need to see the Government step in and show that they are serious about promoting regional economic development.
“Cork and Limerick are seeing massive investment in their city centres. Waterford cannot be the bridesmaid anymore. I am calling on the Government to step up to the plate, and show Waterford that it cares about its economic future, and provides the capital investment to let this project continue,” concluded Butler.