Foundation laid for hundreds of new jobs
The IDA and Enterprise Ireland are set to boost their property portfolio in Galway – and lay the groundwork for the creation of potentially hundreds of new jobs – as part of a new five-year plan.
The authority will roll-out a nationwide €150 million property investment programme next year, which has been welcomed by local TDs as an opportunity to turn Galway into a manufacturing hub.
The programme will see capital investment made in Galway, as well as Castlebar, Sligo, Athlone, Tralee, Dundalk, Carlow and Waterford.
It’s part of an overall €250m strategy aimed at accelerating jobs recovery in each of the regions.
An Action Plan will be drawn up in each region, overseen by an IDA or Enterprise Ireland official, and stakeholders will include the enterprise agencies, education institutions, local authorities and business and community groups.
Fine Gael Deputy Brian Walsh said the investment will address what he perceives as a shortage of manufacturing facilities in Galway.
“I expect this to address the shortage of advance manufacturing facilities in Galway and result in the creation of hundreds of additional jobs.
“It is important for the agency to start now – in advance of that development – to seek to attract prospective employers from the manufacturing sector to locate here.
“Galway is an eminently attractive location for prospective employers and we have had great success in attracting multinational companies in the ICT and medical technology sectors in recent years.
“But we have failed to see a similar influx of industrial manufacturing jobs here due to a shortage of suitable accommodation and the fact is that we’re losing out as a result.
“Galway has demonstrated its ability to maximise its potential as a hub for major players in the ICT and medical-technology sectors. This investment will create new opportunities for the county in another area in which it can be equally successful in the years ahead,” said Deputy Walsh.
Labour Deputy Derek Nolan said the programme will support activities in the area of Foreign Direct Investment (FDI) and of Enterprise Ireland clients.
“New infrastructure and new building programmes are critical in securing economic investment into Galway and it widely accepted that there is a lack of facilities at the moment.
“We need to have real options for these multi-nationals if they are to take the big decision to locate in Galway. They have to be able to see their new location, walk around their potential offices and get a feel for the environment in which they will be located.
“The dedicated regional strategy gives Galway ownership and control over attracting and maintaining jobs in the area. Galway has huge potential to develop itself fully as a regional capital and really promote itself as a place to live, work and learn,” said Deputy Nolan.
FG Senator Hildegarde Naughton said: “The availability of suitable, high quality premises is key to attracting foreign direct investment to the regions.
The sustainable economic future of Ireland depends on balanced regional development. Not on a concentration of jobs in Dublin and Cork,” she said.
FG TD for Galway West. Sean Kyne, said: “This investment will be a major boost to the Galway area as locations where secured advanced property solutions are already in place have proven a major attraction to foreign investment.”