| 4°C Dublin

Government pledges €78m to help attract European Medicines Agency to Dublin


Stock picture

Stock picture

Stock picture

The Government will make a €78m contribution towards the relocation expenses of the European Medicines Agency (EMA) if it moves to Dublin.

The EMA will have to move out of London post Brexit.

That includes €15m towards the cost of fit-out/rent of the selected premises in the first year, 2019, when Britain exits the European Union.

From 2020 to 2028, an annual contribution of €7m will be made towards rent and maintenance.

Read more: Post-Brexit transitional period expected to take no longer than three years - Philip Hammond

The Government has published its formal bid document this morning.

The Government will provide office space in Dublin from 2018 onward for an advance team from the EMA to be based in Dublin to work on the Agency’s move.

"A comprehensive relocation support service will be contracted.

This service will be provided to assist EMA staff and their families with identifying appropriate accommodation, schools, jobs for spouses/partners and other practical issues such as banking assistance, moving personal belongings and sourcing language lessons. "This is estimated to be of a value up to €10m."

The bid document states that a dedicated Transition Taskforce will be established to liaise with the EMA in all aspects of planning, managing and implementing the relocation. The group will draw membership from Government Departments and State agencies.

Business Newsletter

Read the leading stories from the world of business.

This field is required

Most Watched