Business
Multi-national interest on the rise for Galway
Multi-national companies’ interest in Galway is on the rise again – with the total number of visits in the first half of this year already outstripping all of 2013.
That’s according to local Senator Lorraine Higgins who was told by Minister for Jobs, Enterprise and Innovation Richard Bruton TD there were 16 multinational visits to Galway in the first half of 2015 – already one more than the low of 15 visits in 2013.
“I asked the Minister to indicate the number of visits made by potential multi-national investors with the IDA to County Galway; and if he would make a statement on the matter given the drop in visits in recent years from 35 in 2011 to 18 in 2012 and 15 in 2013,” said the Athenry Senator.
The Minister confirmed 16 site visits by potential multi-national investors to Co. Galway to the middle of 2015.
“This figure over a six month period represents an increase in visits from the figure in 2013 and this is extremely heartening,” she said.
The Minister was also quick to point out the IDA’s commitment to actively marketing Galway across its global offices.
“In particular, there are two sites in Tuam that IDA Ireland markets. The first is the Tuam Business Park, which is a 13.48ha site. The second is the 10.73ha Tuam Business & Technology Park.
“Tenants include companies such as Valeo Vision Systems, Transitions Optical, Logstrup and SSL Logistics,” he said.
And the new IDA Ireland strategy for the next five years includes a €150m property investment plan, spread out over five years.
“The funding will be used to upgrade Ireland’s business and technology parks, as well as investing in a number of strategic utility-intensive sites and building new advanced technology buildings in a number of regional locations,” added Minister Bruton.
Senator Higgins welcomed the news.
“While competition for FDI is very intense, it is important that we do not take our eye off the ball when it comes to inward investment. The impact in terms of helping our economic recovery spread across the west of our country and instilling confidence in a community can be best seen with the news of Apple locating a new data centre in my hometown of Athenry.
“Therefore, it is imperative that the IDA remain committed be providing more job opportunities for young people in Galway instead of forcing them to move to Dublin or further afield in order to secure a job,” she added.
The new President of Local Ireland, the association representing local news publishers around the country, is Head of Irish Times Regionals Dan Linehan.
Mr Linehan takes over the presidency from Declan McGuire of the Connacht Tribune. His appointment was confirmed at the recent Annual General Meeting of Local Ireland at Bloomfield House Hotel near Mullingar, Westmeath.
Mr Linehan, who has served as Vice President of the organisation for the last two years, said: “The coming years are a very important time for local publishers with many important issues to be addressed, including the implementation of the Future of Media Commission recommendations, defamation reform, the role and support for local publishers in public service reporting and helping publishers develop commercial digital offerings.”
Speaking at the AGM, Mr McGuire acknowledged the work done by the Executive in the past two years under the direction of Executive Director, Bob Hughes, on several projects related to the publishing industry but most especially the successful conclusion of the long-running campaign for the abolition of VAT on newspapers.
He also wished Mr Linehan the very best in his new role as President of the association for the next two years.
Mr Hughes thanked Mr McGuire for his leadership and support during his term of office and said he looked forward to working with Mr Linehan on the key policy priorities for the association, including Government supports, Government advertising, fair remuneration for content from the tech platforms and the reform of the legislation for defamation.
Local Ireland members also elected Seán Mahon, Managing Director of the Southern Star, as Vice President for the next two years.
The shortage of affordable housing is the single biggest impediment in attracting and retaining workers in the West, according to business group Ibec.
At a ‘Regional Insights Series’ meeting in the Galmont Hotel in Galway last week, employers were told that capacity constraints and labour supply are the key challenges facing business growth in the region.
Ibec Head of Regional Policy Helen Leahy said: “There must be greater focus by government on enhancing quality of life issues such as housing and infrastructure which are driving labour shortages in the region.
“Ibec’s vision for the West is to realise its potential to become a globally competitive location. An inadequate supply of affordable housing is now the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
“Labour shortages are a real concern for businesses in the region. People decide where to live and work based on quality of life and access to high quality services and amenities. Industry tends to follow talent, and in this regard, the region needs to have all the building blocks in place as the attraction and retention of world-class talent becomes increasingly competitive on a global level,” said Ms Leahy.
Amongst Ibec’s priorities for the West are:
- Addressing housing and infrastructure challenges
- Transitioning towards a new growth model with Net Zero energy powered by Atlantic offshore wind resources
- Adapting businesses to the new economic realities
- Enhancing capacity and skillsets to achieve sustainable development objectives
- Investment in people and skills
- Creating competitive advantage through digitalisation
- Innovation as a key driver of productivity growth
One in five Galway businesses want to go fully cashless, as the move towards card payments and tapping continues unabated post-Covid.
In all, 22% of Galway businesses would like to be fully cashless, according to a survey carried out by BOI Payment Acceptance (BOIPA), a provider of payment technology solutions, which asked Irish businesses about the current payment landscape as well as business confidence and concerns.
Over one-third (36%) of Galway businesses were unaware there is no contactless limit on mobile wallets – just below the national average – while 54% believe the increase in card over cash transactions has helped them run their business.
Six out of ten Galway businesses expect to grow this year despite the cost-of-living crisis and running costs dominating as key concerns; 62% believe their business will grow over the next twelve months despite global economic uncertainty.
Unsurprisingly cost-of-living increases and running costs were the main concerns the majority of businesses had.
For more, read this week’s Connacht Tribune.
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