Monday 11 December 2017

The Punt: More praise for teacher's pet

Shoshone Falls, Idaho
Shoshone Falls, Idaho

Ireland continues to be the teacher's pet when it comes to the bailout countries. In its influential 'Heard on the Street' column, the 'Wall Street Journal' points out that the country's debt to GDP ratio is set to fall from 123pc in 2010 to below 100pc this year.

Growth has been the catalyst, with GDP increasing at 7pc per year. The Journal praises Ireland's bailout and "subsequent financing strategy, including early repayment of IMF loans", which has left "a debt structure that provides reassurance".

But before the Government gets too smug (although that ship may have already sailed), the Journal notes that the Irish economy was fundamentally sound before the crash.

Current growth "is an outcome rather than a policy choice". Don't expect Enda to mention that last bit while on the election trail.

Glanbia leads whey in Idaho

Twin Falls councilman Chris Talkington hopes the Idaho town won't get "too big for its britches" as it experiences the strongest growth spurt since it was founded over a century ago, as a result of the expansion of companies including Irish dairy group Glanbia.

Glanbia announced plans last year for a major expansion of its two facilities at Gooding and Twin Falls, in Idaho's so-called 'Magic Valley'.

The Irish company processes about a third of the milk produced by Idaho dairy farmers every day, and it's the biggest maker of American-style cheese in the US, and one of the largest whey producers there.

The main street in Twin Falls - situated near the famous Shoshone Falls,- is about to be upgraded for the first time since the 1960s, while the town is also to get a new city hall - the first in 72 years.

The population is expected to reach 50,000 in two years' time (from about 46,000 now), when a public bus system will "stamp Twin Falls as a mini-metropolis", according to Talkington.

"Our current growth requires three new schools, as the city assists Glanbia, Chobani (a huge yoghurt maker), and Clif Bar (a maker of organic food and drinks) to create hundreds of upscale jobs," he said.

Irish Independent

Promoted Links

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Also in Business