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residential developments, these projects breathe life and prosperity back into areas of cities that have long been underutilised,” said the minister.
October, and the development is due to welcome its first companies by April 2020. The two office buildings will be capable of accommodating up to 2,500 employees once complete.
NEWS National Development Plan in anticipation of the proposed public
“Cork competes at a global level for foreign direct investment and developments such as Penrose Dock will undoubtedly add to its current offering of quality of life, competitive cost base, and well-established multinational clusters in life sciences and technology, as well as its excellent educational ecosystem.”
John Cleary, CEO of JCD Group, said the investment in Cork by his and other private sector companies needs to be echoed by the State. Cork is second only to Dublin when it comes to cranes on the city skyline, with another significant construction site nearby at Horgan’s Quay and numerous others around the city.
sector investment committed for the city under the Government’s National Planning Framework, Project Ireland 2040,” he said.
Work at the site, which is under construction by JCD Group, began as soon as permission was granted in
“Penrose Dock is an example of how the private sector is investing in Cork
“Furthermore, given the competitive cost base and access to world-class third-level institutions such as UCC and CIT, Cork can become a real counterbalance to Dublin,” said Mr Cleary.
TInnovation & Tech Key to
Development Plan for Western
Seaboard
Promoting investment in emerging technologies has been identified as the central aim of a new plan to boost the economy of counties along the western seaboard. The plans are contained in a new five year strategy from the Western Development Commission (WDC), titled 'Work Smarter, Live Better'.
he plan identifies a number of investment and reducing commutes "What we can do is to address the headings under which for those living and working in the issues of access. For those who don't regional development goals west. have access at home, we can identify, can be achieved, including a He said the move was being at a reasonable cost, a hub where they
“I believe this is a very exciting time for Cork given its excellent track record in attracting foreign direct investment and the talent pool that already exists here.
new multi million euro fund to underpinned by greater investment in can get access. It also means that provide equity and lending to start up the region. those working abroad are in a businesses. "We were originally - under statute position to see that there is fibre
A total of €48 million is being made - given €32 million to invest where enabled broadband and that they can available to support new companies, there was market failure as venture have the same working conditions
as well as providing loans for capital. It's not grant aid, but it's to that they are currently used to," Mr Ó community development projects. work with companies to help them Síocháin explained.
The policy will be particularly grow. "They can see that they can move focused on technology businesses "Through the management and the West, take advantage of the better which the WDC says will have the work of the investment team, that has quality of life and join us in making a potential to "develop a global niche". grown to €72 million. That's given us dramatic change in the future of the
Speaking on RTÉ's Morning Ireland on April 15th, Tomás Ó Síocháin, CEO of the WDC, said the strategy builds on two decades of experience around investment in the region.
€50 million to invest in companies and lend to communities. We're going to take a 10 year view and identify one or two sectors where we make a difference in the Western region."
West."
The strategy will also see the
"It's notable now that the shift towards the regions is a reality. If you look at the Chambers and how they have come together to form the City Regions Group. Ireland 2040 has established the Atlantic Economic Corridor, building on the work of the WDC over 20 years."
Much of the development of the commercial landscape in the West will hinge on the availability of broadband in the region and the rollout of the long-awaited National Broadband Plan.
investment of €1 million from the Dormant Accounts Fund in the process of linking digital hubs from the north to south of the country.
The WDC says its strategy can ensure balanced regional development and play a significant role the the move to a low carbon economy, by encouraging sustainable
“It will also help Centre Managers to grow the business, learn from each other, offer clear routes to further supports and, in the longer term, build a pipeline of innovation in communities.”
However the Commission is also planning to link a network of existing digital hubs in rural communities. These have been set up in many towns in recent years, as a way to help address the lack of widespread high speed internet access.
“The fund will help raise the profile of the hubs, the work they do and a build a single online point of access for public, private and community hubs along the Atlantic coast.
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