Galway Technology Centre expansion could create 12,500 jobs

From this week’s Galway City Tribune – Tánaiste Leo Varadkar today hails the importance of Galway City in Ireland’s bid to become ‘tech capital of Europe’.

The Minister for Enterprise, Trade and Employment will also laud as ‘incredible’ the rapid growth in jobs in Galway-based blue chip technology companies, including world-leaders such as EA Games and Wayfair.

Mr Varadkar will be speaking at a virtual event this morning to mark the 25th anniversary of Galway Technology Centre (GTC), which has ambitious plans to expand with the potential to create 12,500 jobs and €1.4 billion in investment over the next 15 years.

GTC is home to 41 companies that currently employ 326 people on site in Mervue. Its expansion plans – AcademyWest – will be officially unveiled today, and involve a 22,000 square foot extension bringing its total footprint to 72,000.

It will focus on “facilitating rapid scaling for start ups and other innovation driven enterprises, as well as growing ICT businesses in need of second sites”.

A GTC spokesperson said: “The impact of the expansion is expected to see 828 new jobs and €62.4m in investment generated per annum by year five, growing to 1,689 new jobs and €127.3m per annum by year 10 and on to 2,517 new jobs and €189.7m per annum by year 15. This will bring the cumulative total to over 12,500 jobs and €1.4 billion over the next 15 years.”

Asked if the projections were a tad optimistic, the spokesperson insisted the targets are achievable.

At the event, Mr Varadkar will say: “With our highly skilled workforce, our place at the heart of the European Union, the Common Travel Area with Britain, our special relationship with the United States and of course, the implementation of the National Broadband Plan, Ireland is uniquely placed to become the tech capital of Europe attracting the very best talent and investment from around the world.

“Indeed, due to centres like the Galway Technology Centre, that we are already well on our way on that journey.”

Mr Varadkar will single out GTC for its role in the ‘evolution and growth of the technology sector in Galway and the West’.
This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.