2013-12-18 13:12:45 - The Cathaoirleach of Limerick County Council has welcomed the announcement by American biopharmaceuticals firm Regeneron of its intention to develop a new facility at Raheen Business Park in Limerick.
The proposed $300 million investment programme includes the construction of a quality control laboratory and the major refurbishment of existing buildings, including former Dell facilities which have been vacant since 2009.
Cathaoirleach John Sheahan said he expected a planning application to be lodged with Limerick County Council before the end of this week. He continued: “Subject to planning approval from the local authority, this development will certainly transform the 11.88 hectare site at Raheen Business Park into a world-class biopharmaceutical campus and will help to redress any fears that may have existed regarding the future use of the site.”
The Cathaoirleach continued: “The significance of this announcement for the wider region cannot be overstated as it sends out a clear message to
other prospective investors that Limerick and the Mid West is an attractive and viable location for investment. This is evidenced by the fact that that Regeneron’s move represents its first major expansion outside the United States and is regarded as strategically important to the company.”
“This development will not only restore confidence in the local pharmaceutical sector but also has the potential to create significant employment. The company has indicated that it expects to employ up to 300 people by the end of 2016 and a further 600 temporary construction jobs for local contractors over a two year period. I am also very encouraged by the company’s ongoing discussions with Limerick’s third level institutes about future possibilities,” concluded Cllr. Sheahan.
The Regeneron project is being supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.