Thomas Lyons 
A Cork-based multinational is set to unveil its expansion plans this week, as confirmed by Minister for Enterprise Trade and Employment Simon Coveney. The announcement was made during an Oireachtas Enterprise Committee meeting where Mr Coveney was questioned about the future of foreign direct investment in Cork and other related matters. The Minister stated that he will be involved in the expansion of a multinational company in East Cork, which is expected to create significant job opportunities in the region.
East Cork is home to several large multinational firms, including pharmaceutical companies AbbVie and Gilead sciences, snack maker Pepsi, and medical equipment manufacturer Stryker. The region has been a hub for foreign direct investment in Ireland, and the expansion of the aforementioned multinational is expected to further bolster the area’s economy and job market.
During the meeting, the Minister was also asked about the status of the IDA site in Carrigtwohill. The former Amgen site has been lying idle due to the lack of transport infrastructure around it. Mr Coveney confirmed that he has spoken to the IDA about the site and sees it as a strategic location that needs to be developed further. He added that there has been a lot of IDA activity in and around that site, indicating that there may be plans to put it to use in the near future.
The IDA’s annual results for 2022 showed that Ireland’s multinational sector continued to grow and create jobs last year despite the mounting economic headwinds that led to a tech slowdown. However, the momentum is expected to slow down in the second half of this year. Despite this, Mr Coveney assured the committee that there is still a strong demand for multinationals to set up their operations in Ireland.
The expansion plans of the Cork-based multinational are eagerly awaited, as they are expected to create a significant number of jobs in the region. With the IDA working to develop strategic locations such as the Carrigtwohill site, the future looks bright for foreign direct investment in Cork and Ireland as a whole.
