GE splashes €150m on Irish campus set to house 500 new jobs
IRELAND celebrated a 500 job boost thanks to a €150m plus investment by a global healthcare giant.
Cork will become the centre of next-generation medical development after GE Healthcare said it hopes to create up to 500 new jobs with the development of four research and development and related production facilities in Cork.
The investment is focused on a site in Ringaskiddy near Cork harbour. Ringaskiddy already boasts one of the world's greatest concentrations of pharmaceutical production and R&D with major facilities operated by firms including Pfizer, Novartis and Johnson & Johnson.
Under the current plan, GE Healthcare will develop four high-tech stand-alone R&D and production facilities for the healthcare sector.
These will be equipped to focus on the development and production of next-generation healthcare treatments. However, these facilities will be operated by independent firms working in the pharmaceutical and bio-healthcare sectors. The UK firm said that, at full operating capacity, the €150m investment could lead to 500 new jobs.
GE Healthcare ranks as one of the world's leading bio-pharmaceutical firms and boasts a global workforce of almost 50,000 staff. The firm is based in the UK but already has a strong presence in Ireland with 600 staff in Cork.
The industry has been one of the fastest expanding in the entire healthcare sector and more than 28,000 people are currently employed directly and indirectly in Ireland.
The investment has been hailed by Cork Chamber of Commerce and Cork Business Association as a tremendous boost for Cork and the Cork harbour area in particular.
The jobs announcement followed major expansions of their Cork operations by leading IT firms including Apple and EMC.