IDA will deliver second advanced building in Tralee over next four years

The IDA will deliver a second advanced building for industry in Tralee over the next four years (2021-2024).

The agency, which is charged with attracting foreign direct investment,  has released its result for 2020 and also launched its four year strategy.

IDA Regional Manager for the South West, Ray O’Connor says there are 211 overseas companies in the region which employ 46,009 people.

During 2020, there was a slight decrease in the employment provided by these companies in Kerry.

There was only one site visit in Kerry during 2020 and Ray O’Connor says the pandemic had an impact on that, adding they attempted virtual site visits.

He says the closure of BorgWarner in Tralee is a big loss for their over 200 employees.

Mr O’Connor says they are doing everything possible to find a replacement for BorgWarner; he says one company is expressing interest:

 

Meanwhile, the IDA has confirmed it will deliver a second advanced buildingin Tralee over 2021-2024; it will continue to work closely with the private sector in the south-west to secure the provision of appropriate and cost-effective building and property solutions for client companies.

Ray O’Connor says the site selection for this building hasn’t yet taken place, but says it will be progressed:

 

 

The IDA report also states that the FDI performance in the region has been strong over the past five years with employment among IDA clients increasing by 30%.

The establishment of Munster Technological University (MTU) on January 1st, through the merger of CIT and IT Tralee, will further strengthen the South West’s value proposition to FDI, according to the report.

Additional upgrade works, and investment are planned for IDA parks in the region to ensure a robust value proposition for clients, and IDA plans to acquire additional strategic sites for future development.

IDA will target 118 investments for the south-west region in the period 2021-2024.