IDA continues support for Limerick city which remains on an upward curve

LIMERICK is performing “exceptionally well” when it comes to Foreign Direct Investment, with IDA Ireland continually securing companies to the region.

That’s according to the job creation agency’s head of regional business development  Anne-Marie Tierney-Le Roux.

She said: “2018 was a very strong year for Foreign Direct Investment (FDI), continuing on the excellent growth recorded in investments in recent years. The existing companies continue to invest and we have an established and dynamic FDI base from the life sciences, financial services and technology sectors in Limerick.  

“Over 10,600 people are employed in 56 IDA client companies in Limerick. The local economic impact of the existing FDI base is impressive,” Ms Le Roux says, “and shouldn’t be underestimated.

“Global companies who have established here act as strong reference sellers for the city and region, showing that, if this location can meet their requirements in terms of skilled workers, access and connectivity and a strong pro-business environment, it can help other multinationals considering locating in Ireland the opportunity to quickly establish and scale up their operations here too.

“There’s a real vibrancy here, synergies have been created and that also makes it an attractive location for further investment,” she adds.  

As well as working to attract FDI and supporting the existing client company base to develop and expand operations, IDA is leading the development of a new Advanced Manufacturing Centre to be located within the National Technology Park in Limerick and constructing a new 4,500 sq. metre three-storey advance office building in the National Technology Park.

“Having property solutions to offer prospective investors is crucial,” Ms Tierney-Le Roux says.

“In developing the new Advanced Manufacturing Centre with the support of government and the involvement of Enterprise Ireland and Science Foundation Ireland, we are responding to the identified needs of our discrete manufacturing industry base. This facility will service the entire Irish-based manufacturing sector.

“It will be of scale and an international exemplar, greatly complementing existing resources and developing the expertise to allow companies to evolve, adopting multiple new technologies and building new skills in order to remain both viable and competitive.”

Limerick beat a number of locations from across Ireland to the advanced manufacturing facility.

IDA Ireland owns both Raheen and the National Technology Park and continues to make infrastructural investments for the future.

Significantly, IDA Ireland received planning permission in December 2018 for a major upgrade to the road network within the National Technology Park.  

It a new left slip lane from Plassey Park road to the R445, widening of Plassey Park road for the length within the National Technology Park from the Annacotty roundabout to the vicinity of the junction of Plassey Park road with Milford road including cycle lanes, footpaths, pedestrian crossings and landscaping.

It is anticipated that this project will be on site in 2019, subject to a successful public procurement process.

- This article was included as part of a 36 page supplement called Limerick On The Up, highlighting Limerick’s resurgence. It is available as an e-paper here.