Figures represent 195,000 visitors to the region and over 484,000 bed nights
6,000 employed at Shannon Free Zone
DESPITE a “very challenging, difficult year,” Shannon Development recorded a 12% increase in tourism and created 362 jobs in Shannon Free Zone in 2010.
At the launch of its Annual Report, the region’s economic development agency claimed to have minimised job losses and boosted tourism and business prospects in Limerick and the surrounding areas in 2010.
Among other highlights of the report were the securing of €5.7 million to redevelop King John’s Castle, the completion of over €7.5 million investments in a range of property solutions for foreign and indigenous companies and the €2.7million Tarbert E-town project.
“We are learning to do more with less,” explained chairman John Brassil.
“A strong region is vital for recovery and we are confident we will get there, working relentlessly to do so”.
Chief executive Dr. Vincent Cunnane, said that encouraging signs had been seen in the local economy at the end of last year and in early 2011.
“Our key challenges are tourism, the airport and Limerick,” he revealed.
The Shannon Free Zone was pinpointed as key to a flourishing local economy, with 362 jobs created there last year, though employment fell by 4% at the industrial estate.
“The main factor here was companies downsizing, not closing,” added Dr Cunnane.
“During the year companies there generated almost €3 billion in sales, 92% of these were to export markets, so recovery is export based”.
Over 6,000 people are employed in Shannon Free Zone companies.
Shannon Development is said to be working with potential overseas investors to attract new projects and jobs at the zone.
Meanwhile, the agency has focused on Limerick as a key driver of tourism in the region, with a €39 million yield in the sector in 2010, a 12% increase on the same period in the previous year.
The figure represents 195,000 visitors to the region and over 484,000 bed nights.
“A lot of shoe leather has gone into achieving these results”, said Dr Cunnane. “We hope to double the number of tourists into Limerick with the investment at King John’s Castle.
“This is seen as a major confidence boost in the city”.
The brand of City of Sport for Limerick in 2011 was said to be hugely successful to date.
“We expect a €6 million windfall from it and will build on the brand.
“Its clear that people love the city and we want to ensure that positive results are found for Limerick on Google.
“We’re working with regeneration and the council on the plan to develop Nicholas Street”.
With regards to the Mid West Task Force, Dr Cunnane was in favour of uniting Limerick’s local authorities, but said that action was needed now.
“We can’t wait for 2014, it’s about 2011 and changes coming immediately”.
Among forthcoming plans for the region, Shannon Development are investigating developing the Shannon estuary’s potential for sustainable energy and continuing to enhance Limerick’s tourism appeal.
