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Monday, 13th May 2024

Mill Enterpise Hub celebrates €229m contribution to local economy in 10 years

Front Page

Flashback to May 20th 2014 as Mayor of the time Richiel Culhane cuts the ribbon to officially open the Mill Enterprise Hub watched by Deputy Fergus O'Dowd, Graham O’ Rourke, the original Chairperson of The Mill, Deputy Ged Nash and on eof the founders, Eugene Kierans. Photo: Andy Spearman. 

Ten years ago, on May 20th 2014, Drogheda’s Mayor of the day, Richie Culhane, cut the tape to officially open the Mill Enterprise Hub. The event was the culmination of much hard work and a dream come true for some of the best business people in this town including Sean McEntee and Eugene Kierans. 

Close to 100 people were in attendance at Friday's celebration at which it was revealed that in the intervening ten years companies located in the Mill had generated a combined Gross Value Add, (measure of economic contribution) of just under €229 million. 

The event included input from a number of speakers and fireside chats and was also the launch pad for the new three-year strategy for The Mill Enterprise Hub for the period 2024 – 2027. As part of the celebrations, The Mill also unveiled its 10-year economic impact report. 

Economist, Dr. Pat McCloughan of PMCA Economic Consultants unveiled his economic impact study which measured the contribution of The Mill Enterprise Hub for the period 2014 - 2023. 

Dr. McCloughan described the findings of this report as being “very significant” and identified that companies located in the Mill had generated a combined Gross Value Add, (measure of economic contribution) of just under €229M over the 10 Year period, with 2023 proving to be a record year with over €45M being generated in GVA by the 65 companies represented in The Mill for that year. 

The report revealed that the overall number of jobs being supported by companies in The Mill (both directly and indirectly) had grown to 318 jobs and that €34M has been generated to the Irish Tax Exchequer due to the activities of companies located in The Mill over the 10-year period. 

Some of the atendance at Friday's tenth anniversary celebrations at the Mill Enterprise Hub. Photo: Marcin W Photography.

Speaking at the launch of The Mill’s new 3-year Strategy, The Mill CEO Ronan Whitty commented that, “Having engaged with our resident ‘Millers’ and our board we feel that our new strategy is a true reflection of both the values and the mission of The Mill to position itself as a ‘Recognised National Leader in Effective Regional Enterprise Development’ and builds upon the existing success of The Mill’s work to date.

“The addition of the new start up and scale up supports spread around the walls of The Mill are the manifestation of the strategy and will aid us in the implementation of the strategy and will help further drive a culture of The Mill being a home for where startups and scale ups identify as being a supportive partner in growing their enterprise and Drogheda as a pro business location”. 

“We are extremely proud of the findings unveiled in the economic impact report which underline The Mill’s track record of economic development in the region,” added Ronan Whitty, “and we are confident that the implementation of the new strategy will lead to continued enterprise development opportunities for aspiring new entrepreneurs in the northeast moving forward as well as a landing site location for foreign direction investment in the region. I would like to also take this opportunity to publicly thank the many people who had the vision, courage and conviction to create The Mill back in 2014 without which none of us would be here to celebrate today”. 

As part of the celebration The Mill played a ‘Reeling in The Years’ video telling the 10 Year journey of The Mill from inception to launch and following its journey right up to its current status in 2024. The current Chairpersons of The Mill Shona McManus of Osborne Recruitment and Steven Rice of Big Wheel Marketing then held a fireside chat with Graham O’ Rourke, the original Chairperson of The Mill and founder of Aphix Software to discuss how The Mill has evolved over the 10 years and their thoughts on the future of The Mill. 

The event also contained a fireside chat with the Innovation Exchange for which The Mill is the Northeast Regional Partner which showcased how SME technology businesses can now access a pre-approved sales pipeline of challenges with leading multinationals to support SME growth in the region. 

Minister for State, Thomas Byrne was also in attendance and, he said: “The Mill Enterprise Hub is a key part of the entrepreneurial eco system for the Northeast region and provides a supportive environment for those looking to both start up and grow their businesses in the region, the findings of the today’s 10-year economic impact report highlight The Mill’s significance on both a regional and national level.”

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