Published: Wednesday, 26th May, 2010 5:00pm

Much needed boost at last

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After weeks of bad news and doom and gloom in Cavan, largely dominated by Quinn Insurance being put into administration and 900 redundancies being sought, there is at last some good news on the horizon.

Confirmation that the long-awaiting €3m scouting project at the Castlesaunderson demense will get underway in August is great news for businesses in the Belturbet and wider west Cavan area. Once up and running, there is bound to be major spin-off for the local economy as up to 1,000 scouts at a time will converge on the facility for jamborees. With the potential to further develop the site in the coming years and perhaps link in with the Ulster Canal development, this will be another boost for tourism and business in the area.

At a time when confidence among the business community in Cavan is sapping as a result of the Quinn saga, this is a much-needed injection of confidence.

The fact that the new M3 is due to open on Friday of next week will deliver another vital boost for the county. While it will shorten journey times from Cavan to Dublin considerably, this motorway needs to be extended from Whitegate all the way to Cavan to give the county town the best possible chance of securing inward investment.

Let's face it, the blow caused by the ongoing troubles at Quinn Insurance, would not have been so severe if more companies had located here in recent decades. A huge proportion of Cavan, and particularly west Cavan businesses have built up on the back of Quinn. This leaves many small businesses and jobs exposed and vulnerable should Quinn fall into any further misfortune.

Certainly, the new M3 will bring more business and trade to towns like Virginia, Ballyjamesduff and Mullagh; but given that the motorway stops just shy of the Cavan border; there are also very real concerns about traffic bottle necks building up in Virginia and the impact that this, in turn, will have on the town. Certainly, it could be a major headache for residents.

And there was further good news for Gowna this week as the local housing association got funding of over €100,000 to help it build communal facilities for elderly people living in 14 OPDs in the village.

Announcements such as these go a long way to restoring confidence and confidence is the key to consumer spending and business-to-business spending. Confidence underpins economic success and it is confidence that will ultimately rebuild the local, and national economy in the months and years ahead.

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