With aims of bringing in €500m in investment and creating 5,000 jobs, a new entity called Limerick Twenty Thirty has been formed to overhaul the region’s investment infrastructure over the next five years.
The first of its kind outside of Dublin, the Limerick Twenty Thirty company has been established as a special purpose vehicle to potentially turn the city into one of Europe’s top investment locations.
Created with the city and wider county in mind, Limerick Twenty Thirty will be tasked with attracting €500m worth of investment infrastructure across four strategic sites in Limerick city, which could create over 5,000 jobs in the next five years.
These four sites include the 112,000 sq ft Gardens International Office on Henry Street, the 550,000 sq ft Opera Site at Rutland Street, the 100,000 sq ft Cleeves Riverside Campus, and the 340,000 sq ft Troy Studios Film Hub in Castleroy.
The new entity – which has announced Denis Brosnan as its executive chairman – is expected to continue the work achieved so far under the Limerick 2030 plan released in 2013.
Since the plan’s launch, 7,800 jobs have been created in the region, with over €1.3bn invested, putting it ahead of its initial targets.
Of these jobs created, 5,400 have been in sectors including financial services, retail, med-tech and IT, while the remainder are construction jobs.
Drive city and county into a ‘new and golden era’
Speaking of Limerick Twenty Thirty’s ambitions, Brosnan said: “Limerick has embarked on a remarkable journey since 2009, when I was asked to chair the mid-west task force on job creation. Today, with the launch of the Limerick Twenty Thirty company, it steps onto a new platform.
“I am determined that this company will take up on the brilliant work and huge gains achieved, and deliver the type of assets required to attract further transformational inward investment. We are sending a message far and wide, and not least in the window of opportunity for FDI post-Brexit investment, that we are open for business and capable of competing with the best for it.”
Limerick City and County Council chief executive, Conn Murray, also added: “With the establishment of Limerick Twenty Thirty, we now have a dedicated vehicle, with one of Ireland’s most respected business people at the wheel, to drive this city and county into a new and golden era.”