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Life sciences the big winner as IDA grants climb to €96.2m

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The life sciences sector was the big winner in the €96.2m provided in IDA grants to industry last year.

Figures released by the IDA in response to a freedom of information request show that of the top 10 recipients, eight were companies in the life sciences sector, reflecting the recent strong jobs growth there.

The largest grant of €8.9m went to Abbott Ireland. This followed the company's 2018 announcement of the creation of up to 500 IDA-supported jobs at its expanded plant in Donegal town.

The second-highest grant of €4.8m was made to Wuxi Biologics Ireland. Last November, the company announced that it is to build a $240m (€220m) vaccine production facility on the recently established Wuxi Biologics Campus in Dundalk, bringing 200 additional jobs to the town over five years.

The scale of grants provided by the IDA to industry last year increased by 8.5pc to €96.23m from €87.96m. Other companies to feature in the top 10 include Stryker Ireland (€4.49m); Bristol-Myers Squibb (Bio) Cruiserath (€4.2m); Boston Scientific Ireland (€3.89m) and LM Ericsson Ireland (€3.68m).

The figures show that DePuy Synthes (Ireland) received €3.07m, MetLife Innovation Centre Ltd €3.02m, Genzyme €2.68m and Edwards Lifesciences Ireland Ltd €2.53m.

In a statement, the IDA said that in providing grants and supports to new and existing client companies, it considers the business size, the sector, the proposed activity and its location in Ireland, as well as the potential impact on this activity in terms of job creation and investment.

Irish Independent