600 jobs expected in southeast in coming years with €5m investment

A €5m investment from European research and innovation fund "Horizon 2020" will see 600 jobs created in the southeast over the next three to five years.

The Minister for Education, Ruari Quinn will officially open TSSG's "NetLabs" at Waterford Institute of Technology this afternoon.

Dr Ruari Nevin, President of WIT, said the research and development sector is fast becoming a major employer in the region.

"We're very much ready to take on for additional funding from Horizon 2020 … it's that type of initiative we want to tie into," he said.

"That type of investment helps drive new ideas, innovation [and] enterprise activities."

Horizon 2020 is a research funding programme for the EU with an €80bn bankroll, running from 2014 – 2020. It is the biggest EU programme of its kind to date.