Martin Shanahan, the CEO of IDA Ireland, pictured in Drogheda in 2017 for the official opening of Yapstone. Hopefully we will see more of him at official factory openings in Drogheda in the near future.
IDA Ireland has confirmed to Drogheda Life that it has acquired a 39 acre site in the Mell area of Drogheda as part of its long term strategic plans to position Louth and the wider North East region to compete for foreign direct investment (FDI).
The site, which is at Mell, is one of two acquisitions in County Louth, the other being at the townland of Killally, in Dundalk.
The acquisition of these land banks is part of IDA Ireland’s overall property programme which is supported by the Government through the Department of Enterprise, Trade and Employment.
The FDI performance in the North East Region has been strong over the past five years with employment growing among IDA clients within the Engineering and Industrial Technologies, Medical Technologies, Technology, International Financial Services and Life Sciences sectors.
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IDA Ireland’s Divisional Head of Regional Development and Property, Denis Curran said: “The timely provision of appropriate, cost-effective property and infrastructure solutions to meet the needs of MNCs remains essential to winning Foreign Direct Investment (FDI).
“IDA’s regional property programme ensures the continued supply of land, buildings and infrastructure in regional locations to meet the needs of current and prospective clients. A robust property and infrastructure ecosystem can be the key differentiator in winning FDI projects.
“We are pleased to have acquired these two landbanks enhancing our offering in the North East. Over the last five years, IDA’s Regional Property Programme enabled the winning of capital-intensive projects of significant scale to regional locations. IDA will continue to work with commercial property developers and Local Authorities to market other property solutions across all regions where they exist.”
Welcoming the news, Drogheda Chamber of Commerce President Robert Murray said it was “a very welcome and major step forward along the road to deliver Drogheda's potential.”
“Drogheda & District Chamber has been engaged with the IDA to identify suitable development parks within the town to help activate more direct investment in the area.
“We're delighted that significant progress has now been made and we will continue to work with and support the IDA team and Louth County Council in the development of these parks for the provision of local jobs now and in the future."
Deputy Fergus O'Dowd said: “This is really positive news for Drogheda and its environs, we will now have a significant land bank within the town to attract Foreign Direct Investment as the town continues to expand.
“The site is located close to the motorway and will have excellent transport links. The acquisition of the landbank is part of IDA Ireland’s overall property programme which is supported by the Government through the Department of Enterprise, Trade & Employment.
“Martin Shanahan has also confirmed to me that the Advanced Building Solution that was announced for Drogheda as part of the IDA’s strategy, Driving Recovery & Sustainable Growth 2021-2024 will also be located on the new site in Mell.
“This advanced building will be marketed to clients across the Financial Services, Technology, Global Services and Life Sciences sectors.
“With the very welcome AWS expansion on the Donore Road site, this will provide an appropriate alternative site where the rates will kept within the county.
“This is really exciting news for the town and will no doubt help us on our way to City Status.”
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