Speaking at the announcement of the Company’s results for 2006 in Limerick today (9th January 2007), Mr Kevin Thompstone , Chief Executive, Shannon Development, said “Last year we set ourselves three critical goals to drive strong economic development in the Shannon Region, as part of a wider Atlantic Economic Corridor, these were; to assist the more developed parts of the region to reach their full development potential; to help the less developed areas of the region to thrive; and to stimulate market demand for the Shannon Airport Gateway”.
“Using these targets as key drivers we succeeded in delivering world class projects to help fuel Irish economic growth. Our strategy is to maximise the regional economic development potential of the Shannon Region, and thereby contribute to the development of the emerging Atlantic economic counterpole to the East Coast. We did this in a number of ways including playing our part in delivering the Atlantic Gateways study which explores how the Atlantic gateway cities can become an increasingly interconnected and developed network of co-operating and complementary cities”.
Calling for Regional Development to be prioritised in the new National Development Plan Mr Thompstone, as CEO of Ireland’s only dedicated Regional Development Company, said “We have constantly highlighted the importance of regional development to the Irish economy. Much has been achieved, however, further investment in economic infrastructure, such as road, rail, and telecoms, is needed to deliver balanced regional development in the Shannon Region and the wider Atlantic Corridor.
These include accelerated delivery of critical projects such as the N18, the reopening of the Western Rail Corridor, and securing the future of an independent Shannon International Airport. In the context of the introduction of ‘Open Skies’ we believe that a strong tourism promotional marketing campaign targeted primarily in North America is needed to attract additional traffic through the Shannon Airport Gateway”.
“In our work to ensure that the more developed areas of our Region reach their full potential we continued to focus on the cornerstones of our industrial development portfolio. Our client companies delivered 549 new jobs at the Shannon Free Zone and 1,543 new indigenous jobs throughout the region during 2006. We continued to invest in the Shannon Development Knowledge Network of business and technology parks, all of which showed a strong level of activity during the year. We also continued to use the Company’s extensive property portfolio, located throughout the region, as a lever to provide the economic development infrastructure that is essential for regional development”, he said.
During 2006 Shannon Development undertook a number of initiatives to help realise the potential of the less developed areas of the Shannon Region. “We launched Ireland’s first E-Town in Miltown Malbay and plans are under way to follow this with other E-Towns in less developed areas of our Region, including Cappamore, Co Limerick, Tarbert, Co Kerry, and Newport, Co Tipperary. We worked closely with local communities in the Region on the delivery of broadband connectivity, and we are delighted that 16 new broadband networks went live in the Region in 2006 bringing us closer to our goal of achieving blanket broadband coverage throughout our Region.
We entered into an option agreement with Shannon LNG Ltd., on part of our 600 acre landbank in Ballylongford, Co. Kerry, for a €400 million liquefied natural gas receiving terminal. Significant preparatory work is underway with a view to lodging a planning application in 2007. This project has the potential to bring major economic benefits to the local economy in this less developed area of the Region and also to secure Ireland’s long-term supply of natural gas”, said Mr. Thompstone.
“In delivering our goal of stimulating market demand for the Shannon Airport Gateway, we identified and participated in over 40 influential overseas and domestic tourism initiatives directed at getting our tourism message to key audiences. This approach which included advertising campaigns, attendance at travel shows, and a range of e-marketing initiatives, resulted in excellent exposure for the Shannon Region as a tourist destination. These campaigns reached an estimated 90 million potential visitors world wide”, said Mr. Thompstone.
“Working with the Shannon Region tourism trade, airlines, Fáilte Ireland and Tourism Ireland colleagues, we identified and undertook overseas promotions in areas with high potential for generating additional traffic through Shannon International Airport. For example we supported the new direct Ryanair Biarritz route to Shannon by organising a very successful media and travel trade blitz in Biarritz for French and Spanish media”, he said.
“Our efforts during 2006 have ensured that the Shannon Region continues to be a global player with contacts forged world-wide over the years yielding dividends for the Region. Examples of key global players we worked with during the year are; Shannon LNG Ltd, a subsidiary of Hess Corporation, a Fortune 500 Company; US based multinational Digital River, who established a base at the Shannon Free Zone; and Halifax Ireland a subsidiary of a leading UK bank, and Kiawah Development Partners, a leading US golf resort developer, and Globus Corporation” said Mr Thompstone.
Mr Liam McElligott, Chairman, Shannon Development, concluded “The challenge going forward will be to ensure that the Shannon Region remains dynamic and globally competitive, and a location of choice for investors and visitors. In 2007 we will continue to focus on developing strategic partnerships internationally, nationally and regionally. As regional development pioneers, we will continue to focus on our core regional development activities and build on the strengths of the Shannon Region into the future”.
Nandi O’Sullivan
Public Relations Manager
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