LIMERICK City has taken a top spot in this year’s European Cities and Regions of the Future awards in recognition of the work being undertaken in attracting foreign direct investment to the city.
Limerick ranked first for FDI Strategy in the Micro European Cities of the Future category in the awards hosted by fDi magazine, published by fDi Intelligence, a specialist division from The Financial Times.
The awards benchmark European cities and regions according to their economic, financial, and business strengths.
Limerick was also named overall runner-up in its population category to the Swiss city of Zug, after ranking highly in a number of other areas.
It was ranked second for Economic Potential and fourth for Business Friendliness. It was also fourth for Human Capital and Lifestyle.
The fDi assessment stated that in the five years to November 2022, Limerick attracted FDI worth €1.57 billion with the lion’s share going to biotech and medical device manufacturing
“Ireland’s third-most-populous city has a long history as a manufacturing hub and is home to the country’s Advanced Manufacturing Centre, which enables foreign and Irish firms to accelerate the adoption of digital technologies into their factory floors and supply chains.”
Mayor Francis Foley said the fDi award was important for boosting Limerick’s reputation internationally as an attractive place to do business and a recognition of the hard work of Limerick City and County Council, the IDA and Enterprise Ireland.
Limerick City and County Council chief executive Dr Pat Daly said that foreign direct investment was a highly competitive business and having the council’s work independently validated was an advantage in pitching for future investments.
“We have laid the foundations for future investment with our enterprise infrastructure. The council’s commitment to collaboration with business partners and stakeholders ensures that the future is very bright. One only has to look at the investment history, to see how future planning, coupled with economic vision and collaboration, can lead to world class facilities.
“The fDi magazine rankings confirm, once more, that you can find your business edge in Limerick’s embrace,” he added.