The Department of Enterprise, Trade and Employment has allocated €200,000 annually for two years for the development of the strategic development zone (SDZ) at Ireland West Airport Knock (IWAK).

Fáil Minister, Dara Calleary, welcomed the announcement.

The Minister of State in the Department of Enterprise, Trade and Employment, said: "The airport is a critical piece of enterprise-enabling infrastructure for the region and the strategic development zone designation has the potential to enhance its role significantly as a driver of regional economic development, in the manner envisaged 40 years ago by the late Monsignor Horan, to develop both an airport and jobs.

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"I have been working with the management and the board at IWAK and at Mayo County Council on this proposal for some time and I am delighted that we can-for the first time-progress the preparation of a funded development plan for the SDZ.

"The economic development and potential of the lands adjacent to Ireland West Airport is enormous for not just Mayo but for the entire West of Ireland. This funding gives us the opportunity to prepare a plan to develop that potential and to create employment.

"I would like to thank An Taoiseach Leo Varadkar and Minister Simon Coveney for their full support of this proposal. I would like to pay particular tribute to IWAK CEO Joe Gilmore IWAK Chair Arthur French and to the management team and local members of Mayo County Council and officials in my Department for their commitment to this."