Waterford tipped as high-potential area in EU

An influential international business magazine has included Waterford among its top European cities and regions of the future in a new ranking of high-potential areas.

Waterford Castle
Waterford Castle

The ranking of locations with the best prospects for inward investment, economic development, and business expansion is published today by fDi magazine, a Financial Times Ltd publication.

Every two years, fDi rates locations in categories including economic potential, cost-effectiveness, infrastructure, business friendliness, labour environment, and foreign direct investment (FDI) strategy.

Waterford was ranked first in micro-cities for FDI strategy and runner-up overall among micro-cities. It was also ranked among the top 10 micro-cities for business friendliness.

Welcoming the success during a visit to the site where Nypro Healthcare is creating over 200 jobs, Waterford mayor John Cummins said: “This is both a welcome endorsement of the ongoing work to promote Waterford as an investment location and a boost to that effort in that we can now use the high ratings as part of our marketing efforts for Waterford.”

He said the designation is “particularly welcome in a year when we reflect on 1,100 years of history in Ireland’s oldest city to see that we are rated as having a promising economic future”.

Lar Power, director of economic development for Waterford City and County Council, said there had been a concerted effort by the local authorities, IDA Ireland, and other stakeholders to market the area more robustly for FDI.

“That work is beginning to bear fruit with increased site visits to Waterford from prospective employers. This latest recognition can only help in that effort.”

Economic development remains a priority for Waterford in an attempt to generate more employment across all sectors, Mr Power said.

Noel Kelly of Nypro Healthcare said the company was delighted to establish a new manufacturing facility in Waterford.

“At this location, our Waterford team will manufacture complex respiratory and injection devices for our pharmaceutical industry customers worldwide. Our experience with this project to date has been very positive and we look forward to a long and successful future at our facility in Waterford,” he said.

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