Indecon/RED C report endorses potential for motorway to be enabler of Atlantic Corridor and help balance national economy - Cork and Limerick Chambers state. Motorway has the capacity to trigger additional 5,400 jobs in the region
The proposed 80km M20 motorway between Cork and Limerick would enable balanced economic development on a scale not seen heretofore on the island of Ireland, two of the country’s largest business representative bodies have stated today.
Welcoming a major report titled ‘Gearing up for the M20: A Route to Success’ by Indecon Economic Consultants and RED C Research, Cork and Limerick Chambers have stated that the M20 will help realise the Atlantic Economic Corridor concept of a powerful three-city region comprising Cork, Limerick and Galway.
Among the top findings in the report is that the motorway would have the potential to support an estimated additional 4,000-5,400 direct jobs in the region. In gross terms, excluding displacement impacts, these additional direct jobs could provide an annual gross exchequer impact of up to €128 million, depending on the nature of investment attracted, the report finds.
The development of the M20 would see a continuous motorway from Cork all the way to Limerick through to Galway, creating an economic corridor that would provide a strong complement to Dublin, the Chambers state.
The findings of the Indecon/Red C report, which was commissioned by Cork and Limerick Chambers, confirm that the existing N20 between Cork and Limerick has significant capacity constraints that inhibit economic development.
Other key findings in the report include that the motorway would increase the labour force within a 45 minute commute of major employment centres by 23%.
Other findings include:
- Development of the M20 would reduce Blarney to Patrickswell journey time by 16 minutes to approximately 47 minutes
- The M20 scheme would prevent approximately 118 accidents per annum
- The transport benefits would underpin the competitiveness of the South-West and Mid-West Regions
- The M20 would reduce stress and improve the quality of life for commuters
The above benefits have jointly been presented by two the Chambers to Senior Officials in the Departments of Public Expenditure and Reform; Transport, Tourism and Sport; as well as Jobs, Enterprise and Innovation.
Commenting on the importance of the project, Dr. James Ring, CEO of Limerick Chamber, said: “The M20 is probably the most significant piece of infrastructure yet to be developed in the State. Current severe capacity constraints on the N20 is restricting growth potential in our second and third cities, and limits access to business and communities across Limerick, Clare, Kerry, Cork and up into Galway.
“It would effectively create a three-city region with a critical mass at a level that would redouble its capacity to win major inward investment. Two of those cities, Limerick and Galway, will have motorway/dual-carriageway connectivity by the end of this year. The M20 to Cork is the missing link and its delivery would be of national significance in that it would finalise that three-city corridor, benefitting not just the South West, Mid-West and West but with the ripple effect extending out into the North West, Midlands and South East. No other infrastructure project in the country has the capacity to impact positively on such a large swathe of the country like the M20 has.”
Conor Healy, CEO of Cork Chamber, added: “The need for a motorway connection between Cork and Limerick can no longer be ignored or postponed. It is in the national interest that our regional economies expand for Ireland to remain competitive and to complement growth in Dublin.”
“With the right road network linking them, Cork, Limerick and Galway could effectively become one large labour and customer marketplace improving opportunities and choice for employees and businesses, while also enhancing safety for all users of the road, improving Ireland’s external connectivity and competitiveness. As Government ramp up capital spend from next year, the M20 must be first on the list of projects to be progressed.”