News Release -
Tánaiste announces 50 new jobs for Shannon Free Zone and marks Shannon Development’s 50th anniversary
Tánaiste announces Shannon Development end of year results
Tánaiste and Minister for Enterprise, Trade and Employment Ms. Mary Coughlan TD., today (Monday 2nd February ’09) announced 50 new jobs for Shannon Free Zone in Co. Clare, and congratulated Shannon Development on 50 years of commitment to economic development in the Shannon Region.
Making the job announcement the Tánaiste said, “I am delighted to announce that US owned company SGS Tools from Ohio, is establishing an Irish base at the Shannon Free Zone. Melcut Cutting Tools Ltd is the name of Shannon based company and it is creating 50 new jobs at the Shannon Free Zone with support from Shannon Development. Established in the early 1960’s, SGS Tools is a manufacturing company specialising in rotary cutting tools which it markets today to over 60 countries worldwide.”
The Tánaiste continued, “The decision by Melcut, a global leader in its field, to establish 50 jobs at Shannon and undertake a €2 million capital investment programme, is a strong vote of confidence in the facilities and skilled work force at Shannon Free Zone. Shannon Development’s securing of the Melcut investment shows the competitiveness and relevance of Shannon Free Zone in our drive to stimulate regional economic growth.” she said.
Commenting on Shannon Development’s end of year results for 2008, the Tánaiste said, “The work of Shannon Development is central to the national policy objective of delivering balanced regional development which is a key priority of this Government as set out in the National Development Plan. Shannon Development performed well in 2008 despite a difficult global environment, and it delivered strong results for the Shannon Region. I am particularly pleased that Shannon Development is continuing to look to the future and plan for the needs of potential investors.”
2009 marks the 50th anniversary of Shannon Development, Ireland’s only regional development company. The Company was originally set up on 28th January 1959 as Shannon Free Airport Development Company (SFADCo) by Government when the arrival of the jet age threatened to allow planes by-pass Shannon Airport. Shannon Development’s first Chairman was pioneering visionary Dr. Brendan O’Regan, and he was responsible for setting goals for Shannon Development to promote Shannon Airport and its hinterland, and create reasons for visitor and businesses to come to the area.
Commenting on the importance of Shannon Development the Tánaiste said, “Throughout its 50 years of serving the people of the Shannon Region, Shannon Development has come up with many innovative ideas which have been copied world-wide, it invented the world’s first duty free zone, established Ireland’s first technology park – the National Technology Park in Limerick, began the world famous medieval banquets at Bunratty Castle. Many early initiatives pioneering by Shannon Development were rolled out nationally among them the ‘rent an Irish cottage’ scheme, and the ‘matchmaker’ programme which linked international industry with local Irish businesses. Today I am glad to say the Company is still coming up with innovative ideas and approaches, and I am confident that the Shannon Development will continue to be a driving force for economic development into the future.”
Welcoming the jobs announcement Vincent Cunnane, chief executive Shannon Development said, “The establishment of Melcut at Shannon Free Zone mirrors the continuous reinvention which Shannon Development has had to undertake to maintain the Free Zone’s position as one of Ireland’s leading business parks. Over 7,000 people are employed at the Zone which recorded over €3.5 billion in sales, a 10% increase on previous results. Its strengths lie in its multi-sectoral nature and its global connectivity through Shannon Airport. To ensure its continued success Shannon Development is undertaking a regeneration of Shannon Free Zone to make it a ‘must see’ location for future business entrepreneurs.”
Speaking about the Company’s anniversary Dr. Cunnane said, “Shannon Development owes its pioneering roots to Dr. O’Regan who had the vision and courage to try new things. I intend to continue this type of leadership at Shannon Development now and in the future. Ireland and Shannon Region are facing tough times, but in times of crisis Shannon Development has proved over and over again that it can meet challenges head on and come up with innovative solutions.”
John Brassil, Chairman, Shannon Development said, “Since its inception 50 years ago Shannon Development has been uniquely placed to respond to the needs and challenges facing the Shannon Region. The Company looks at every part of the Region as a blank canvas and identifies the strengths of a particular area within the Region and from this works out what type of development would most suit that area. In some cases this might be an industrial development; in others it might be a tourism development, or something entirely new that has never been done before. It is this ability to devise tailored solutions to challenges will be critical for future economic growth.”
Commenting on Shannon Development’s current achievement the Tánaiste said, “Today Shannon Development’s impact and footprint can be seen in every corner of the Shannon Region. Its many initiatives include: developing a Knowledge Network of 5 business and technology parks in Clare, Tipperary, Kerry, Limerick and Offaly; priming and creating the next generation of property solutions for future entrepreneurs at its 57 technology/business parks and industrial estates around the Shannon Region; Supporting industry in the Shannon Free Zone; Its €18.5 million investment working with the region’s local authorities and the Department of Communications Energy & Natural Resources, through Shannon Broadband Ltd, to make broadband connectivity a reality in Limerick and 8 Shannon Region towns; Its €7 million commitment for E-Towns developments in Miltown Malbay, Co. Clare and Tarbert, Co. Kerry - a first for Ireland; securing a location for the €500 million Shannon LNG project at it’s the Company’s Kerry Deep Water Zone which could provide 60% of Ireland’s projected future gas needs; assisting developers to create of a range of innovative tourism attractions which since 1989 amounts to an investment of over €600 million.”
“I know that the Company is focused firmly on the future and is working on their next range of innovative ideas. To pave the way for this Shannon Development is currently undertaking a major internal restructuring and formulating a new strategic plan. One of the areas already emerging from this process is a new programme to attract investment in the tourism and leisure areas. This will be achieved by building on opportunities such as the new pre-clearance facilities at Shannon. I wish them well with this and am confident that Shannon Development will continue to be a driving force for economic development into the future,” the Tánaiste added.
Speaking about the Company’s future activities Vincent Cunnane said, “Shannon Development through a range of new and existing initiatives intends to play its part in transforming the social and economic landscape of the Shannon Region into the future. We will continue to work to ensure that the Shannon Region is a world class region where people will want to live, work and spend leisure time, and we are firmly focused on our vision of delivering a better future for every citizen of the Shannon Region.”
End
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