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Noonan promises 400 new jobs as Trinity research institute creates 50 posts

UP to 400 jobs are to be created in Limerick.

Finance Minister Michael Noonan said the new positions are in the final stages of negotiations but would not elaborate on what industry they’re in.

Mr Noonan announced the latest jobs boost for the region at the Limerick Chamber Region Business Awards.

“I can tell you it is true and it is at the final stages of negotiation and it will be a big boost for Limerick,” Mr Noonan said.

It is understood the jobs will not be based in the financial services industry – a sector where Limerick has benefited in recent months. It is not yet known when the jobs will be created but it will be in the “near future”.

Last September, financial services firm Northern Trust announced it was creating 400 jobs at its Limerick base.

Meanwhile, a research institute at Trinity College Dublin is to create 50 jobs.

The Crann nanotechnology centre has secured €8m in State funding, an increase of 60pc over investment secured in 2011.

Jobs Minister Richard Bruton announced the investment and jobs boost as Crann opened its industry showcase.

"A key part of the Government's plans for jobs and growth is ensuring not only that we continue to develop good ideas through scientific research, but also crucially that we turn more of them into products, services and ultimately good jobs," he said.

Crann, which partners in research with global companies such as Intel, Merck Millipore and Hewlett Packard, has secured €20m of industry funding for research for the next six years to sustain and grow the institute.

Professor John Boland, director of Crann, said: "Today's announcement illustrates the return on investment in scientific research in terms of the benefit to the Irish economy.

"Nanoscience is enabling the products and services of the future and Ireland's researchers are at the heart of this innovation."