Bring your business to Limerick. You’ll join a business community that ranks highly for inward investment. FDI is growing rapidly, with nearly 2,500 new job announcements in 2021. Simply, you’ll in be great company. You’ll benefit from our fascination with innovation, backed by stakeholder commitment and generous resources. And you’ll operate in an environment that’s dynamic, youthful and brimming with talent.
Despite challenges, 2021 can be considered a recovery year for Limerick’s economy. New job announcements were up 25% on the previous year, with over 2,500 across a variety of industries, most notably Healthcare, Pharmaceutical and Life Sciences. Some of the larger investments in 2021 included the Bon Secours Health Group plans to construct a 150-bed hospital in Ballysimon, creating 350 construction jobs and 250 permanent healthcare positions. Kirby Group Engineering announced 300 jobs for Raheen, Legato Health Technologies are bringing 120 jobs to Castletroy and an additional 250 jobs were confirmed at the official opening of Edwards Lifesciences facility in the National Technological Park.
COVID-19 has caused unprecedented disruption but the prospect of the re-opening of the economy this summer, as well as building back better and more sustainably, provides some cause for optimism, the latest EY Economic Monitor for Limerick has revealed.
The biannual report, which is prepared by EY for Limerick City and County Council, reveals that despite the unprecedented challenges of the past year, Limerick has shown resilience during Covid-19, with a key indicator being the creation of 860 new jobs and 194 start-ups to end of Q1 2021. Another positive was that residential investment from August to end of February was €250m.
Limerick’s resilience has come to the fore during COVID-19, with key indicators from the second of this year’s biannual Limerick Economic Monitors reflecting well on the city and county’s ability to ride out the pandemic.
The EY-DKM monitor October 2020 shows that while the Limerick economy has, like the rest of the country, been heavily impacted by the pandemic, there are positive signs for the city, county and region. Among the key indicators is the recovery of footfall in the city centre, with Limerick at 78% of pre pandemic levels, compared to Dublin’s O’Connell St (50%), with Galway and Cork still only at 39.5% and 29% respectively for their city centres.
Limerick’s rising status as one of Ireland’s most attractive locations to live, work, learn, do business in and visit has been advanced by its second economic monitor, which shows that 2019 was another major year of progress for the city and county. The Limerick Economic Monitor (LEM) involves the analysis of Limerick’s economic and fiscal status annually by EY-DKM Economic Advisory.
The LEM provides a barometer across a number of key economic indicators, including employment, enterprise, investment, housing, consumer sentiment, and commercial property.
Limerick is investing over €1 billion in enterprise and investment infrastructure as part of the Limerick 2030 Vision: An Economic and Spatial Plan for Limerick, a 20 year action plan, which aims to transform Limerick through the economic, social and physical renaissance of Limerick City Centre and the wider Mid West Region.
Commissioned by Limerick City and Council and produced by EY-DKM Economic Advisory, the Limerick Economic Monitor is the barometer used to track Limerick’s performance against key economic indicators including employment, enterprise, investment, housing, consumer sentiment, and commercial property. In so doing, it benchmarks Limerick’s progress against local and national targets, as per the Limerick 2030 economic and spatial plan, and Project Ireland 2040.
The Limerick Tourism Development Strategy outlines the action plan to revitalise the tourism sector in Limerick, capture key opportunities to grow the sector and highlight priority action areas to unlock the significant benefits that a thriving tourism industry can bring.