Mid-west losing out on foreign investment

THE mid-west region is losing foreign direct investment because of infrastructural deficits and reduced air services at Shannon Airport, the American Chamber of Commerce in Ireland said yesterday.

The chamber called for a co-ordinated approach by Government agencies to stimulate further US investment in the region of Limerick, Clare and North Tipperary and accelerate a business strategy for Shannon Airport.

Kieran MacSweeney, managing director of Avocent, the newly-appointed chairman of the American Chamber of Commerce (mid-west region) said one of the main attractions to many major investors located not only in the mid-west, but the entire western seaboard, is access to an international airport.

“There has been a serious decline in the level of service being offered from Shannon, and currently, the airport is not supporting the business needs.

“Reduced service by carriers and ill-timed flight schedules means that companies based in the Mid-West cannot easily connect to the major business cities in Europe, cannot attract potential customers to their companies and cannot air freight goods in a timely manner.

“The development of a Business Strategy for Shannon Airport must be a priority and we warmly welcome the recent initiatives from the Minister of Transport in establishing a newly appointed board of directors to Shannon Airport.

“We recognise there are legalities and challenges to be finalised, but would encourage the Government to ensure that the new board have autonomy and support to implement its business strategies at the earliest possible time. A sense of urgency is needed as the current ambivalent situation cannot continue,” he said.

Mr MacSweeney said solutions to the infrastructural deficits in the region needed to be accelerated such as the road network between Shannon, Limerick and Galway and Limerick’s fourth river crossing.