WHILE challenges including uncertainty over the impact of Brexit remain, the South East regional economy is performing strongly with positive indicators for further investment and jobs growth. according to a new report published last week.
The summer 2019 edition of ‘Economy at a Glance’ from the Ireland South East Development Office (ISEDO) shows the region has grown steadily over the last seven years across all key economic indicators.
With 5,900 new jobs created across Waterford, Carlow, Kilkenny, Tipperary and Wexford between the first quarters of 2018 and 2019, the report shows an estimated €700m in company investments committed to the region over the last 12 months alone.
These investments include substantial projects from successful global firms such as MSD, Bausch + Lomb and Glanbia while companies launching or expanding in the region include Immedis (Kilkenny), Sabrina Manufacturing (Littleton, Co Tipperary) and Carne Financial (Kilkenny and Wexford).
Further new foreign direct investment includes announcements from GrandPad (Gorey, Co Wexford) and Allstate Sales Group Inc (Waterford). Just last week, LMC announced the creation of 200 jobs at the former Procter & Gamble plant in Nenagh, Co Tipperary while the Agora Companies are this week announcing the creation of 135 additional jobs in Waterford.
Other positive developments highlighted in the report include the government’s agreement in principle in June to provide €5m of exchequer funding towards a €12m runway extension at Waterford Airport that is also being backed with private sector investment of €5m and support totalling €2m from the local authorities in Waterford, Kilkenny and Wexford.
Local authorities have also successfully combined to secure €10.6m funding for a greenway which will link New Ross to Waterford city centre where it will join the existing Waterford Greenway to Dungarvan, Co Waterford. The Suir Blueway opened between Carrick-on-Suir and Cahir, Co Tipperary in May also strengthens the region’s tourism and leisure offering.
Further regional collaboration is evident from the recent launch of ‘Engineering the South East’, an industry-led cluster addressing skills needs in engineering.