Tánaiste: Jobs boost justifies Govt invesment in knowledge economy

A multi-million euro research and development investment was announced today promising to bring 450 jobs to Dublin – the second massive boost for the city in as many days.

Publishing company Houghton, Mifflin, Harcourt (HMH) will invest €350m on a new global headquarters in the capital creating well paid posts for technology and engineering professionals.

Tánaiste Mary Coughlan said HMH had an unrivalled reputation for excellence in education publishing.

“The HMH R&D centre will drive innovation in digital learning for children, globally and strengthen the e-learning industry in Ireland,” she said.

Ms Coughlan said the investment justified the Government’s focus on developing a knowledge economy.

It is the second massive jobs boost for Dublin this week after the latest stage in the Dundrum town centre development was unveiled yesterday with the promise of more than 400 jobs by November.

HMH, known as Riverdeep before a series of mergers, will take on staff over the next five years to drive the company’s e-learning division producing material for its educational goods.

Most of the jobs will be highly technical and staff at the new HQ will require third or fourth level qualifications.

The exact location of the centre has not been confirmed.

Fiona O’Carroll, the company’s senior vice-president, said Dublin offered the best hub to link HMH operations from the US to Europe and on to Asia.

“The Government’s vision to create a knowledge economy and to invest in people, research and innovation has been a key factor in our decision to expand our operation,” she said.

Ms O’Carroll said the Government had given significant financial support to the investment with Enterprise Ireland leading negotiations on the deal.

Frank Ryan, the agency’s chief executive, said the e-learning sector was showing significant growth in Ireland.

“All of the projects involved in this initiative have been defined as ’world class’ and involve a high degree of innovation,” Mr Ryan said.

“This level of research and development by HMH reiterates the point that with investment in R&D and innovation, Irish companies can and are achieving global scale and leadership positions.”

Mr Ryan said many of the leading Irish e-learning companies exporting to the UK, US and Asia had exports worth around €250m a year.