Joint Limerick City and County Council and Limerick Chamber event also addressed by IDA CEO Martin Shanahan
Laura Ryan, Head of Communications and Marketing, Limerick City and County Council, Martin Shanahan, CEO of IDA Ireland and Dr. James Ring, CEO, Limerick Chamber at a joint Limerick City and County Council and Limerick Chamber event addressed by IDA Ireland CEO Martin Shanahan which launched a series of initiatives outlined for 2017 to support the continued promotion of Limerick as a destination for inward investment.
Friday, March 4, 2017: The transformation of Limerick’s economic fortunes has been such that it has evolved into a destination capable of competing with leading European regions on an international scale for inward investment, a business breakfast in the city was told this morning
Attended by executives from some of the city’s leading domestic and multi-national businesses and addressed by IDA CEO Martin Shanahan, the joint Limerick City and County Council (LCCC) and Limerick Chamber event heard that there is a real sense of optimism in the city and region now thanks to the dramatic economic resurgence that has taken hold.
Addressing the event, Head of Marketing/Communications for LCCC Laura Ryan said that the creation of 9,000 jobs in Limerick the region over the past three years in Limerick has made the Mid-West the fastest growing region outside of Dublin.
“We are going through one of the greatest economic periods in Limerick’s history and it hasn’t happened by accident. There’s a confluence of unprecedented investment happening through key regional stakeholders here, from our local authority to Shannon Airport, Shannon Foynes Port Company and third level, among others.
“We also have a business community, led by Limerick Chamber, that is now very much mobilised in the collective for Limerick. Better still, all of these key stakeholders are continuously communicating, working together in a spirit of partnership and it is creating an optimism and confidence not experienced here for a long time, if ever.”
At today’s briefing LCCC and Limerick Chamber outlined a series of initiatives for 2017 that will further raise the city’s flag as a destination for inward investment. They include:
- Commissioning an analysis of economic data to capture Limerick Level of competitiveness in an international context
- Creating key marketing assets to help the IDA and other agencies to attract inward investment into the region. These assets will include video and other digital content and printed material, including an invest Limerick brochure launched at today’s event
- Launching a new Limerick.ie platform to help promote Limerick internationally with cutting edge functionality that will showcase Limerick for those living, working, visiting and doing business in the region
Said Limerick Chamber CEO James Ring: “Limerick’s vital statistics are very healthy today. In addition to the 9,000 jobs and €1.3bn in investment over the past three years, unemployment is at 7%, which is lower than the national average. We have Ireland’s largest bulk port in Shannon Foynes Port Company undertaking record investment at its port, the leading international airport for the Atlantic seaboard, Shannon Airport, just 20 minutes away at Shannon, also in growth mode and a 20,000 plus student population in three third level colleges.
“We have a young population, with 50% under 35 years; an urban population of 100,000 in Limerick itself and our commercial rates are between 30% and 50% more competitive than rival investment locations. Add to that the fact that Limerick Twenty Thirty, a special purpose vehicle established by Limerick City and County Council, is going to spend over €500m in building out 1.4m sq ft of prime real estate with a target of 5,000 jobs. So not only have we had a remarkable three years, we are going to make sure that the trajectory for the next three and many more beyond is maintained.”
The Chamber CEO added that one of the biggest pieces for Limerick, though, is the quality of life. “We have no congestion, very affordable cost of living, we are a quick step to the Wild Atlantic Way and iconic locations like the Cliffs of Moher, have available housing and are at the heart of Ireland’s most fertile region, the Golden Vale,” he continued.
“We have a great story in Limerick and now that we are, for the first time ever, at this level it’s time for us to shout loud and tell our story internationally as our all-round competitiveness is now such that we can compete with not just on a national level but with internationally.”
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