IDA to build first factories in 30 years

The IDA is to start building factories for the first time in 30 years in an attempt to lure companies to Athlone and Waterford.

The two construction projects will create 160-180 jobs while the factories are being built.

IDA chief executive Barry O’Leary said the agency was funding the building as there was no available private capital to do so, despite a shortage of suitable developments across the country.

“The availability of high-quality property solutions is a key component in winning FDI projects. These initiatives will advance the product offering for both the Midlands and the South-East and therefore underpin the conversion of projects from IDA’s pipeline.

“Furthermore, these initiatives by IDA will address the current deficit of suitable property solutions and promote investment into regional locations.

“IDA’s direct intervention to construct these buildings is due to the absence of private funding available to do so,” he said.

The Athlone building will be more than 2,670sq m s while the Waterford building will be in excess of 2,340 sq m.

Both factories are being constructed so that they can be easily adapted for any potential client companies.

The design will allow for everything from subdivision into offices or use as open plan production areas.

Minister for Jobs Richard Bruton said: “As part of Action Plan 2014 we are bringing a particular focus on regional job creation, and are delivering a range of measures to support this goal, with the establishment of the Local Enterprise Offices, the development of regional enterprise strategies and the creation of a county-based X-Factor-style competition to find the best entrepreneur in the country.”