One hundred new jobs have been confirmed for Cork over the next 12 months by Eli Lilly.
The pharma giant, which has been manufacturing pharmaceutical products in Kinsale since 1981, is to begin recruiting immediately for the new positions in a European financial services centre in Cork city.
Most of the new jobs will be filled by next spring.
The new European financial services centre will support Eli Lilly’s European operations, providing general accounting, order-to-cash and purchase-to-pay activities.
Eli Lilly is among eight of the world’s top 10 pharmaceutical firms based in Ireland.
Headquartered in Indianapolis, Indiana, the firm employs almost 40,000 workers worldwide.
Enterprise Minister Batt O’Keeffe said he was delighted to announce the high-quality jobs in Cork.
"The Government has worked closely with Eli Lilly to secure this investment in Cork and the firm’s decision to invest in the county attests strongly to the academic calibre of the local labour pool and the quality of our higher education institutions," Minister O'Keefe said.
"We have shown again to the world that we can attract strategic investments from leading multinationals by providing the right mix of skills, workforce flexibility and pro-business policies to support business expansion plans and create jobs for our people."
Kay Flynn of Eli Lilly said the decision to locate the operation in Cork was based on the company's track record there, the availability of a skilled workforce, language ability and the presence of a strong shared services base in Ireland.
"We look forward to continuing our success in Ireland with this new venture," Flynn said.
The investment was won in conjunction with IDA Ireland.
Eli Lilly's manufacturing plant in Dunderrow, outside Kinsale, employs over 470 workers engaged in small molecule manufacturing for a number of Eli Lilly's most important drugs.
A €300m bio-tech development and manufacturing facility in Kinsale has been recently completed and is set to manufacture product by 2012.
The company also employs 54 people in a sales and marketing department in Dublin.