LIMERICK has huge potential to capitalise on Foreign Direct Investment according to Fianna Fail party leader Micheal Martin who said that the fact there were 42 IDA visits by foreign companies to Limerick is just a sign of the level of interest in the region.
Speaking to the Limerick Post during a visit to the city with general election candidate and newly elected Mayor, Cllr James Collins, the party leader said that of the 600 or more national visits by FDI companies, 42 were to Limerick.
“There is considerable potential for this region and while 42 IDA visits is more than some other regions, it shows the level of interest in the region and room for potential growth.
Citing the recent economic report conducted on the potential for Limerick, the Fianna Fail deputy said that there will be “significant movement from companies in the UK in the context of Brexit.”
“On the financial services side, there is greater potential for moving outside of Dublin and Limerick is an obvious location for it.
Despite the IFSC in Dublin having a big draw, Limerick has a lot to offer in terms of its third level links to UL, MIC and LIT, the Fianna Fail party leader explained in a recent interview with the Limerick Post.
This sector can grow “significantly in terms of post Brexit because all the evidence is that Europe will not be giving the kind of accommodation to the UK that it has been looking for in terms of financial services.
Limerick can enhance its software and technology offering according to Deputy Martin who said that this will add to attractiveness.
Cllr Collins echoed this and cited the comments of STATS global CEO Carl Mergele who said that the more graduates and masters students that UL produces in the field of artificial intelligence and machine learning, the more he will hire for the Limerick office.
AI and machine learning “is now a particular focus for us here now in Limerick and we are now planning the next phase of Engine, our digital media skills hub on Cecil Street,” Mayor Collins added as he explained that industries are demanding this more and more so Limerick can and is responding.