IDA: US medtech firm Dexcom 'confident' about Ireland expansion despite housing crisis

Michael Lohan, IDA, Minister Simon Coveney and Barry Regan of Dexcom at Friday's announcement. Photo: Aengus McMahon

US medtech firm Dexcom is ‘confident’ about its plans to hire up to 1,000 people at its new manufacturing facility in Galway despite Ireland’s chronic housing crisis, said IDA Ireland chief executive Michael Lohan.

Mr Lohan made his comments while on the RTÉ current affairs show News at One where he discussed the decision by Dexcom, which makes glucose monitoring devices for people with diabetes, to open its European headquarters in Athenry, Co. Galway, through a €300m investment over five years.

“Dexcom are making the decision with full knowledge of the scenario in Ireland both for an infrastructure perspective and they're very confident in terms of Ireland's ability,” said Mr Lohan.

Dexcom said it expects to provide about 500 construction jobs while the facility is being built and up to 1,000 high-tech graduate- and technician-level positions once the site is running at full capacity by 2028.

“I think we have to be conscious as well as that, you know, as a growing economy, we have these challenges within infrastructure, no different in any other part of the world as well as our economy grows,” said Mr Lohan.

Mr Lohan, who was recently appointed to the role of chief executive, said the IDA has “been highlighting these issues on infrastructure and the national carrying capacity for probably four to five years”.

The facility is still subject to planning permission but has been backed by IDA, the State body responsible for securing foreign direct investment. Dexcom’s ambitions for Galway fits into an overall plan by IDA to create a “cluster” of Medtech and manufacturing firms around the West of Ireland where other firms like Medtronic are based.

Ahead of this announcement, Taoiseach Leo Varadkar met with Dexcom representatives last year at the company’s headquarters in San Diego. “This will be one of the biggest single private sector investments ever in the West of Ireland,” said Mr Varadker.

The development has the capacity to produce millions of Dexcom CGM sensors each year, which are used by people with diabetes.