Publish Date: Wednesday 15th February 2017
Limerick’s economic fortunes have continued in the first two months of the year where they left off in 2016, with 400 jobs announced in January and early February.
Maintaining the rapid pace that saw some 9,000 posts announced between 2013 and 2017 in Limerick, news of significant job creation at the likes of General Motors, Optel and Virgin Media already this year suggests that the transformation in Limerick’s economic fortunes looks set to continue unabated.
The trajectory is correlated by the fall-off in unemployment rates in the Mid-West, which was at 7.4% in Quarter 3 last year, half of what it was in the same period in 2012.
The unemployment rate in Q3 last year was also significantly lower than the national average unemployment rate of 8% for the same period.
Regional indicators are also positive, with Shannon Airport in January reporting its 2016 passenger numbers, which were up for the fourth consecutive year since it separated from the Dublin Airport Authority in 2013, and with new destinations coming on board this year.
Similarly, Shannon Foynes Port Company, which facilitates €7.6bn worth of trade per annum, also performed strongly last year.
Said Limerick City and County Council Chief Executive Conn Murray: “Investment in Limerick continues apace. Given the very difficult economic environment that pervaded here four years ago and more, the momentum here now is at a level we probably haven’t seen before.
“One of the reasons for this is because we have buy-in from all the key stakeholders, everyone is on the same page because, as the largest urban centre in the region, the stronger Limerick is the stronger the region is. There’s also a great deal of excitement and all-round buy-in from the wider business community and, indeed, the public, which is very important.
“Ultimately, there’s a new found optimising across Limerick and it’s turning a lot of heads, nationally and internationally. We just need to ensure we retain the dynamism, hunger and competitiveness that has made us a great success story of the Irish economy in the modern era and more jobs and investment will flow across 2017.”