Dublin was yesterday handed a double boost with the announcement of 290 jobs and €100m in funding for the development of Dublin Port.
The European Investment Bank (EIB) has committed funding for the €230m five-year redevelopment plan which is its first investment in port infrastructure here for 20 years.
Jonathan Taylor, EIB vice president, described the port as a crucial piece of infrastructure. “Investment to upgrade Europe’s key ports is essential to improve transport logistics and reduce transport costs passed onto consumers. The Port of Dublin is a crucial transport hub for Ireland and the European Investment Bank looks forward to supporting redevelopment of the Alexandra Basin,” Mr Taylor said.
The EIF and Bank of Ireland also signed an agreement yesterday that will see €100m made available to innovative Irish SMEs over the next two years.
The aim of the InnovFin SME guarantee, through which the €100m is being made available, is to encourage banks and other financial institutions to lend to SMEs and firms with up to 500 employees in need of investment or operating capital to finance research and development.
Meanwhile, 290 jobs were announced for the capital with a further 40 to be created in Cork.
Pfizer is hiring 130 employees across its sites at Grange Castle in Dublin and Ringaskiddy and Little Island in Cork.
The majority of the roles are to be based at its Dublin facility with a wide variety of positions including process scientists; automation and process engineers; and project managers being sought.
The remaining roles will be based in Cork adding to the 3,200 staff members Pfizer employs at six sites across the country.
In a second jobs boost, Carechoice is to create 200 jobs at its newly-built 165-room care home on the Malahide Road.
The announcement comes a little under a year after Carechoice was acquired by UK investment firm, Emerald Investment Partners for €33m deal.
Carechoice has also submitted planning permission for another 165-bed home in Swords as part of its expansion.
In line with the double jobs boost, Dublin City Council’s Dublin Economic Monitor found that unemployment across the county fell rapidly in the second quarter of the year as job creation picked up pace.
Consumer sentiment weakened, however, as the closures of Clery’s and Boyer’s, as well as high rents spooked some shoppers.
“It seems that consumers in the capital are taking a cautious view of what is still an uncertain world. It is important to note the consumer sentiment survey suggests that, on balance, Dublin consumers remain positive about the outlook for the economy, jobs and household incomes,” KBC chief economist Austin Hughes said.
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