Project teams pleased by prospect of public funding for Cork centre

Rival backers of multimillion- euro events centre projects in Cork have welcomed news that public investment may be available to help get the scheme off the ground.

O’Callaghan Properties and BAM/Heineken Ireland — which are both racing to be the first to break ground on a large-scale events centre — described the offer of possible public investment as a positive step forward in securing the project for the city.

They are now expected to be the front runners in thecompetitive process to secure funding from Cork City Council. It follows confirmation from city manager Tim Lucey that a report has found there is an economic justification for public investment in such a facility.