Funding required to drive Cork's docklands development

The Penrose Dock office development on Cork's North Docks.

Government funding must be allocated to the new Cork Docklands Delivery Office to ensure the delivery of necessary infrastructure to attract investment, Cork Chamber has said.

The Chamber's CEO Conor Healy said Cork has an opportunity to deliver concentrated development across its docklands. He was reacting to the announcement of US technology firm Qualcomm, which is establishing a new research and development centre in the Penrose Dock offices, investing €78m over the next four years.

"We are delighted to see the North Docks area of the city become a hub of activity for international investors, with its state-of-the-art facilities and Penrose Dock is an outstanding new base for Qualcomm’s move to the city centre," Mr Healy said.

"We must see Government funding allocated to the new Cork Docklands Delivery Office under the Urban Regeneration and Development Fund (URDF) to ensure the delivery of necessary infrastructure to attract investment."

The Chamber also said progress on the delivery of the Cork Metropolitan Area Transport Strategy will be critical to allowing the city to grow sustainably and to enhancing the city as an attractive place to live and work.”

A wholly-owned subsidiary of Qualcomm Incorporated, headquartered in San Diego in the US, Qualcomm Technologies has taken up 4,600sq m of the new Penrose Dock office development.

The four-year investment is expected to create hundreds of skilled engineering roles. Qualcomm moved into Penrose Dock last month and is recruiting for roles in the areas of digital, analog, machine learning, automotive, CAD, automation, system validation, advanced design for new technologies and software engineering to work on the next generation of computer chips.

Paul Kelleher, senior director of engineering and the site lead for the new facilities in Cork, said the city-centre location will help attract the world-class engineering talent needed.

The expansion project is supported by the Irish Government through IDA Ireland, which said it would significantly enhance the reputation of the Irish semiconductor industry.

Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar said Ireland is known for being one of the leading research, development and innovation locations in the world. "Today’s announcement is further evidence of our strength in this area."

CEO of IDA Ireland Martin Shanahan said the project demonstrates IDA Ireland’s proven record of winning investments for regional locations. "This investment also significantly enhances the reputation of the Irish semiconductor industry, adding to Ireland’s strong standing in microelectronics R&D.”