The Mid West region has a strong base of businesses (indigenous and foreign owned) that trade internationally. The region employs over 170,000 and exports €4.2 billion worth of products every year. Limerick-Shannon represents the largest urban centre after Dublin and Cork and represents approximately 20% of Ireland's GDP. There are approximately 600 indigenous companies employing over 15,000 people throughout the counties of the Mid-West.
Since January 2007 Enterprise Ireland has responsibility for the support and development of all indigenous industry in this region. This new role involves the key aims of;
driving the growth of Irish owned export focused innovation based start-ups.
proactively developing existing client companies in all sectors and
facilitating local and rural enterprise throughout the region.
In addition the agency has a particular focus on the development of leadership, exports and new product development through supported research in these companies.
In terms of job creation, Enterprise Ireland activity is aggressively focused on the creation of new jobs through supporting entrepreneurs in manufacturing and internationally traded services companies, the retention and creation of new jobs in existing companies and in enhancing the innovation capability of Ireland at a national and regional level. A central goal for IDA Ireland is the achievement of balanced Regional Development. The National Spatial Strategy (NSS) provides a framework for the development of the Limerick / Shannon gateway. IDA Ireland markets the area across all sectors through its network of overseas office with emphasis on the gateway and hub towns.
Ireland is competing with developed city regions elsewhere. As Ireland competes for investments at the highest end of the value chain, the concept of scale is crucial to our economic destiny. Leading corporations require a significant population of highly qualified talent, effective physical and digital infrastructure coupled with availability of sophisticated professional support services. If we are to continue being successful in realising a large proportion of our investments outside of the larger cities, all economic and social stakeholders will need to adhere to the framework on which the NSS is constructed.
Shannon Development is responsible for Foreign Direct Investment in the Shannon Free Zone (SFZ) and complements the work of the national development agencies in the region generally through the provision of tailored property solutions for FDI and indigenous industry. The company is aggressively pursuing new investment opportunities for the Shannon Free Zone in home and overseas markets both in its own right and in collaboration with the national agencies. A significant investment commitment is being made by Shannon Development to physically regenerate the Zone through direct and partnership investments in new buildings and existing building refurbishments under the auspices of an ambitious Master Plan approved by the Board of Shannon Development.
For the period 2005 to 2007 a total of 9 new companies have signalled their intentions to establish and collectively create 500 jobs at Shannon. Zimmer Orthopaedics will add a further 250 jobs to this total following their February 2008 announcement to establish a high-end orthopaedic implant manufacturing facility on the Shannon Free Zone. Shannon development has a healthy pipeline with an imminent announcement due and further job creating investments from new and existing companies expected by year end.
In 2007 the Shannon area County enterprise Boards (CEBs) paid over out €1.7 million in grant aid to 170 projects and assisted in the creation of 378 net jobs in the region. In addition to providing grant-aid to projects, the Enterprise Boards also provides a range of "soft supports" to businesses within the area. These supports include business related training courses for owner-managers and their staff, one-to-one mentoring provided by business specialists, in company training and start your own business courses. In 2007 3,704 people availed of such training programmes run by the Shannon area County Enterprise Boards.