A CHANGE in emphasis in Ireland's industrial strategy helped lure back a systems security firm to create 500 new jobs.
Tyco axed 320 jobs six years ago when it closed its manufacturing division in Bishopstown, Co Cork, and transferred operations to a low-cost country.
But now the company is back in Cork with a new emphasis on technical support for the firm's three million customers.
Ireland's decision to focus on niche global business support operations, rather than competing head-on for manufacturing jobs with low-cost countries, was cited as instrumental.
Recruitment is already under way at Tyco, with 150 jobs expected to be in place by next summer. The new plant is expected to open in Mahon.
Average salaries for the fully-operational firm will be in the €50,000 range, with a significant number of graduates involved.
Tyco and its predecessor, Sensormatic, had been involved in manufacturing operations in Bishopstown for decades before the decision to end manufacturing there. However, the US firm said Ireland was well placed to provide global business support services.
There are now 100 top global firms who have decided to locate such operations here.
Ireland fought off intense competition from almost a dozen countries for the prized global services centre.
"Ireland is a comeback economy and this is a comeback company. It is truly fantastic to see a firm like Tyco bring its Irish operation phoenix-like back from the ashes," Enterprise Minister Richard Bruton said.
Critically, while Tyco axed their Irish manufacturing plant they kept a 30-job sales office in Cork.
Tyco's Irish director Donal Sullivan said it was a very different feeling from having to announce the 320 jobs losses back in 2008.
"The crucial thing is that we kept a footprint in Ireland after 2008. It may only have been 30 jobs but it sowed the seeds for this wonderful rebound story here that we have today," Mr Sullivan said.