“Shannon Development is the economic development agency for the Shannon Region and its ambition for the Region is that it will become a recognised world class location in which to live, work and invest. In order to deliver on this vision Shannon Development believes Limerick will play a central role in this process.
This process began many years ago with our investments in numerous strategic projects that positioned Limerick as a major economic centre. From our involvement in the foundation of the University of Limerick, to the development of Ireland’s first Technological Park in Plassey, to our investments in numerous business parks and enterprise centres, each has helped Limerick fulfil a key role in the Irish economy and the development of the Shannon region.
There are now more than 12,000 people employed in Shannon Development managed Business and Enterprise Parks in the Limerick area. In fact, Northern Trust, a new funds and asset management project recently made a decision to locate its 300-job Limerick project at the National Technology Park. Some of the other companies operating at NTP include Cook, Vistakon and 02.
NTP is also home to InnovationWorks, an incubation centre to facilitate the formation and early stage growth if new indigenous enterprises with the potential to create new products and services which are promoted in international markets. Our positive experiences at NTP, Limerick, provided Shannon Development with the raw materials to deploy the concept throughout the Region, to a point where we have comparable locations in Kerry, Tipperary, Clare and Offaly. We also own and operate the Raheen Business Park, which is home to Dell, Vistakon, Analog and Stryker Howmedica.
We have also invested in Limerick’s tourism and cultural heritage which has led us to support projects such as King John’s Castle, the Hunt Museum, the award winning Limerick Tourist information complex in Arthur’s quay, and the Georgian house in Perry Square in order to provide cultural and tourism industries with the support they need.
We are currently working on the delivery of the Limerick Riverside City Project a multimillion euro economic plan for the city which is encouraging investment alone the Quayside. This initiative has attracted much interest nationally and internationally and we believe it will deliver a significant return for Limerick into the future.
In partnership with a range of public and private sector interests, we are working to restore the River as a dynamic economic location. Five areas of the city have been targeted in the Riverside City Project and these are: the Docklands; the Quayside; Kings Island; the Park Canal and the University Area. The aim is to make the River act as a central artery for city development with a range of arteries radiating from it ensuring a constant and consistent flow around the city sending surging life blood to the entire city.
Already we can see great results from quayside developments. To-date over €100 million alone has been invested in retail outlets, hotels, restaurants, and apartments in the Quayside area. These developments stretch from the dockside through Steamboat Quay, Bishops Quay and Howley’s Quay up towards Arthur’s Quay – which was one of the first locations to be rejuvenated in the early 1990 with the opening of the Shannon Development tourism information office. The Quayside is set to continue to grow in the coming years. The City Centre Rejuvenation Programme is a major development currently underway which will make the city more appealing and more pedestrian friendly.
Phase one of the King’s Island Plan saw the investment of over €20 million in the most historic area of the city with tourist magnet attractions like 13th Kings John’s Castle being rejuvenated and the general medieval area being upgraded in both layout and appearance. These projects were assisted by Shannon Development as part of its tourism product development initiatives.
The Park Canal Project will connect the University with the city will also allow walkers, joggers, cyclists, fishermen, and canoeists to benefit from the restoration of this part of the City. The project is part of EU Water in Historic City Centre project.The aim of the project is to make the Park Canal a more attractive area for visitors and residents alike. We want them to enjoy it as a leisure area, and we feel it will provide a wonderful amenity for the general public in the Limerick area, and also for those 3,000 people who work at the National Technology Park and the University of Limerick campus
The physical facelift is symptomatic of the exceptional confidence in the City of Limerick which Shannon Development shares. When confidence is high investment will follow. Retail, commercial and residential investors like the idea that there is a strong and definable 15 year vision in place for the city. They like the visibility of the physical and economic planning, and this gives us a great platform for the future.
All of this work combined with the recent announcement that construction work is starting in Limerick on the €100 million tunnel under the River Shannon, the second phase of the €350 million Limerick southern ring road which will remove 25,000 vehicles daily from Limerick city centre, will spur even further confidence from investors.
Limerick is a symbol of modern Ireland, complete with ever improving infrastructure, progressive third level institutions and a constantly improving physical environment and quality of life.
Its not just physical factors which are contribution to Limerick’s success, it is also a question of attitude. Limerick is fast becoming the place to live, learn, work and play and Shannon Development will continue to make this its mission”.
Nandi O’Sullivan
Public Relations Manager
Tel: +353 61 710259
Mobile: +353 86-2371510
Fax: 061 363180
E-mail: Click Here