NIB chief outlines his vision for city’s docklands

LOW rents, well-trained graduates and top class facilities will not be sufficient to lure financial institutions to Cork’s redeveloped docklands, a leading banker warned yesterday.

National Irish Bank’s chief executive Andrew Healy said financial incentives will have to be provided by Government as part of an overall package which could help transform the city’s docklands into a financial hub.

Mr Healy said that if Cork is to compete with Dublin in this sector then financial incentives will have to made available.

“In effect the development of the Docklands has the potential to create a new heart for this great city. My offices are in the IFSC in Dublin, where we have seen the huge benefits which imaginative redevelopment can bring to a city. I see no reason why the development of the docks here could not become a catalyst for economic growth not only for Cork but the entire region,” he said.

Mr Healy fully supports city manager Joe Gavin’s views on the docklands development and the need for fiscal incentives to assist in its development.

“I would also agree with the city manager’s view on the importance of tourism. In particular I feel it’s vital for Cork to obtain an up-to-date, large capacity conference centre.

While the weather may not be as good, I believe Cork has the potential to rival the likes of Barcelona as an urban tourism centre and gateway city to combine a city and country break,” he added.

Mr Healy said he should also point out that Dublin is only now beginning to think about the possibility of moving its port and redeveloping its port.

“An idea I’m reliably informed was at least partially inspired by the Cork initiative,” he revealed.