Ibec regional meeting in Limerick focuses on general election

IBEC, the organisation representing businesses hosted a budget and general election manifesto briefing at the Technological University of the Shannon's Coonagh campus.

During the meeting, the business group's local members emphasised the importance of leveraging economic success while avoiding complacency.

At the meeting, local TDs heard how Limerick businesses remain highly optimistic and believe that the resources available to the next Government provide a generational opportunity to address areas where Ireland scores poorly, such as infrastructure delivery, a realistic energy strategy, low lifelong learning rates, and quality of life issues like social investment and housing.

Ibec also said Budget 2025 will be important for supporting businesses in the region, which have been struggling with rising costs, and for helping businesses better prepare for the skills required to compete in the future.

The group welcomed remarks by Taoiseach Simon Harris at its president's dinner in Dublin last week, saying that his Government will unlock the National Training Fund before the end of the year and establish a new Better Regulation Initiative to assess the impact of regulation on business costs, both of which were key Ibec asks.

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Helen Leahy, head of regional policy at Ibec, said: “Limerick and the wider region are prime examples of how businesses and strategic government investment can enable a region to thrive. From 2011 to 2022, Limerick has seen a 42% increase in third level education and 27.6% employment growth. More than that, businesses have created opportunities for fulfilling, purposeful careers with a good work-life balance in high-value sectors, demonstrating the region’s position of strength and future potential.

She warned complacency must not be allowed to set in.

"The need for multi-annual funding for the Foynes to Limerick Scheme remains a source of concern for many members in the region, as well as the need for continued investment in Shannon Airport and Port. It is also critical that we continue to invest in further/ higher education and ensure that the skills needed for the future workforce are developed, including significantly increasing lifelong learning rates. While the economy continues to perform strongly, we are acutely aware of the cost competitiveness challenges faced by smaller businesses across the region, some of which placed in very vulnerable positions," she said.