While Limerick is a long established and proven location for international business, it is also Ireland’s most future focused city, committed to innovation and economic growth. Located on the Gateway to the Wild Atlantic Way, just 20 minutes from Shannon International Airport, Limerick is Ireland’s third largest city, attracting a pool of young, energetic and talented people, which makes it an increasingly competitive location for both domestic and foreign business.
Commercial, office and residential properties are competitively priced in comparison to other European rival cities; our road and rail network reflects Limerick’s accessibility; within 2 hours of Ireland’s other urban centres and Limerick’s location offers a unique opportunity to enjoy a quality of life where city and country living co-exist harmoniously.
We have a track record in attracting and retaining leading global companies, which continue to expand their Limerick footprint, reflecting our globally competitive, talent-driven value proposition.
At the start of 2020 all indicators were showing that our economy was growing and performing well. In March, everything changed as Covid-19 spread across the world and caused an unprecedented disruption of the status quo.
All businesses and retailers in Limerick have been impacted in some way and have had to change the way they work as we learn to live with the effects of the pandemic.
Government has stepped in and put financial supports in place to protect people and businesses and these have certainly lessened the impact of this downturn.
As we look towards our scientists to find a vaccine to end the pandemic within the next 12 months, there are reasons to be optimistic about our local economy. These include the recent significant new job announcements by Regeneron and Bath Fitters International, with other announcements imminent.
Although retail has suffered a downturn in our city centre and county towns as people moved in further numbers to online shopping, Limerick City and County Council has put in place numerous supports including the Shop Limerick online platform to help people to shop and support local.
Our city has shown resilience for over 800 years and there are reasons to be hopeful, with major re-development work due to get underway in Q4 of 2020 at Project Opera, Number 1 Bishop Quay and on O’Connell Street. Master planning has commenced on other key sites such as Cleeves Factory site, the Colbert Quarter and work is about to begin on UL City Centre Campus.
The resolve and determination of Limerick people and the confidence in our future demonstrated by these developments and job announcements is preparing Limerick for an accelerated recovery post-Covid-19.
Quality of life and a flexible approach to the new working environment has become more attractive. This is positioning Limerick as an ideal investment and re-location destination. Limerick has an urban appeal and all the lifestyle benefits you get from living at the edge of the Atlantic which is a significant factor in choosing a place to live and work.
Limerick has shown resilience during COVID-19
- 1,113 New Jobs Announced for Limerick: Jan-Aug 2020
- 268 Start-ups Announced for Limerick: Mar-Aug 2020
- €207 million Residential Investment May-July 2020 in Limerick
Limerick has supported business throughout the disruption:
- €15 million Approx. amount of commercial rates waived for Limerick businesses in 2020
- 270 Shop Limerick Trading Businesses in Q2 2020
- €1.25 million worth of Business Continuity Vouchers approved by Limerick Local Enterprise Office in 2020
- €8.3 million Limerick approved applications Restart Grant & Restart Grant Plus to October 2020
Source: Limerick Economic Monitor - October 2020
Limerick is the mid-west capital and Ireland’s third largest city with a natural hinterland of half a million people living within an hour’s drive of the city centre. A thriving region Limerick is the commercial, administrative and cultural capital of Ireland’s mid-west.
Limerick is the main economic driver for the Midwest region, which has experienced a remarkable resurgence in recent years: 14,000 persons have left the Live Register in eight years and almost 16,000 jobs have been created since 2013.
Limerick’s economic vibrancy is underpinned by progressive strategies being implemented by key stake holders committed to working in synergy for the benefit of the region.
These principle agencies include: Limerick City and County Councils, Shannon International Airport Authority, Shannon Foynes Port Company, University of Limerick, Limerick Institute of Technology, Limerick Enterprise Development Partnership and Limerick Chamber.
Limerick’s metropolitan district boasts an urban population of 100,000 people - 45% of whom are younger than 35 years of age.
The combined population of Limerick city and its rural hinterland is 191,809 (*CENSUS 2011 figures). The larger county Limerick towns of Newcastle West, Kimallock and Abbeyfeale are key centres in the economic fabric of the region.
More than 17,700 people are working in over than 128 overseas companies based in the Mid West, which exemplifies the ‘can do’ attitude of the region’s workforce.