Limerick-based company Parkmagic has secured a multi-million dollar deal to roll out technology for collecting parking fees in Chicago.
Details of the deal were announced as an Enterprise Ireland Trade Mission to America’s East Coast came to an end in Boston.
Chicago is the third-biggest city in the US. Minister for Enterprise, Trade and Employment Micheal Martin TD said the fact that Parkmagic saw off competition from 13 international rivals shows Irish firms can compete for key business in major markets.
“Parkmagic and its team of 12 employees have been at the forefront in rolling out the use of mobile technology to pay parking fees in major cities,” commented Martin. “Not only does its technology end the need for drivers to carry around bundles of change it also allows the removal of unsightly parking meters from streets.”
The City of Chicago collects US$165m a year in parking fees so the potential for Parkmagic is huge.
“This deal comes at the end of a highly successful trade mission to the Eastern US,” added Martin. “Irish companies which are offering business solutions in a wide range of areas are receiving a broad welcome here. Already our firms employ over 80,000 people in the US and I am confident this figure will grow.”
Parkmagic is the second Limerick company to secure a major deal during this mission. Earlier this week Advanced Innovations from the Technology Park in Limerick secured a US$29m contract which will see the use of satellite technology to remotely monitor the health of cattle in Washington.
“The Irish Government through Enterprise Ireland is committed to continuing support companies like this as they show to the US that we have the people with the skills and the talents that can compete and deliver in every area of industry,” concluded Martin.
By Niall Byrne
Pictured – Enterprise Minister Micheal Martin with James O’Connell of Parkmagic in Boston, where the Irish company signed a major deal with the City of Chicago.
Get your early bird tickets now!