LIMERICK is now Ireland’s fastest growing region for foreign direct investment (FDI) outside Dublin, it has been revealed.
Not only that, but US multinational companies now employ over 27,200 people in the Mid West region, according to the American Chamber of Commerce Ireland’s Mid West Conference, which took place on Thursday of last week (October 10).
In the five years up to 2022, Limerick attracted €1.57billion in FDI with the majority going to biotech and medical device manufacturing, the American Chamber conference heard.
Limerick’s connectivity was also highlighted, with a €32million investment into Shannon Foynes Port, as well as the investment by Irish Rail into reestablishing the rail link from Shannon to Foynes, along with the development of the new Limerick to Foynes road.
At the conference, Limerick Mental Health Association was given the Cairdeas Award for its work in supporting people with mental health difficulties in Limerick.
Paul Sweetman, chief executive of the American Chamber, said that the investments into Limerick and the Mid West are making it a more attractive place for business.
“We continue to see significant growth in the Mid West Region, supported not least by the strengthening of connectivity through infrastructure investment in the region but also through the skills and talent of the people based in this region. This is paying huge dividends as member firms tell us they plan to grow in the region,” he said.
“A recent AmCham survey found that 56 per cent of members across the country expect the number of employees in their organisation to increase in the next 12 months; and when we look at the Mid West region specifically, this figure rises to 75 per cent which is extremely encouraging.”
Minister of State for Further and Higher Education Patrick O’Donovan attended as guest of honour at the dinner in the Strand Hotel, and Mayor John Moran delivered the keynote address.
