Fine Gael Limerick Senator and Seanad Spokesperson on Finance, Kieran O’Donnell, said the announcement by Regeneron of 300 additional jobs in Raheen, is great news for Limerick and the mid-west.
The announcement, by Regeneron Pharmaceuticals, will bring the total expected direct employment at their site in Raheen to 800 people by the end of 2018 with a total investment of $750 million.
Senator O’Donnell said: “This investment of $100m represents a massive vote of confidence in Limerick. Since Regeneron first announced plans to invest in operations in Ireland three years ago, the company has consistently grown and today’s announcement means a further 300 high skilled jobs on top of the 500 already in Raheen.
“Furthermore, we find that 42% of Regeneron’s workforce in Limerick is female, which is very positive.
“Regeneron is one the biggest players in the global biopharma industry, a booming sector that employs tens of thousands here in Ireland. The Limerick Plant will be the most modern plant of its type in the world, involving the manufacture of cutting edge lifesaving drugs.
“Regeneron recognise that Limerick is on the up, which is why they have made such a strong long-term commitment to our city. I would like to sincerely thank them for their vote of confidence. Also, I wish to commend the IDA for their on-going work here.
“Also, this jobs announcement is a further endorsement of Limericks educational institutions, including University of Limerick and Limerick Institute of Technology, that are among the finest in the country.
“Most of us remember the Regeneron site as being a former Dell building at Raheen in Limerick. It is a remarkable story of rebirth for this building, totally gutted by Regeneron and rebuilt as a modern, world class manufacturing facility.
“Regeneron now needs extra capacity on top of this 400,000 sq feet facility and is building a new additional building of over 110,000 sq feet involving a $100m investment at the same location in Raheen.
“Regeneron has scaled up at a phenomenal rate in jobs and investment terms since coming to Limerick three years ago in 2014. By the end of 2018, with 800 direct, along with over 250 plus temporary and other personnel, it will have over 1,000 people working on the Raheen site.
“Fine Gael is seeking to ensure that companies like Regeneron get the infrastructure and resources they need, which will in turn create jobs and prosperity. The Limerick – Foynes route, connecting the city to a deep sea port, is nearing the end of its planning phase and the M20 go-ahead will see Limerick and Cork linked by motorway.
“We want to help create 200,000 new jobs by 2020 so that more people and families can have the security of a pay packet. The current unemployment rate is 6.1% down from a high of 15.2% before Fine Gael launched the Action Plan for Jobs. We want to drive that down even further,” Senator O’Donnell said.