Shannon Free Zone attracting inward investment to the mid-west
Shannon Commercial Properties’ ambitious property investment programme is aimed at ensuring the region is to the forefront with overseas investors
With a €40 million property investment programme completed ahead of schedule at Shannon Free Zone, and an occupancy rate of 94 per cent, Shannon Group plc’s property company Shannon Commercial Properties has completed the first phase of an ambitious investment programme that is driving inward investment to the region.
“It’s wonderful to see the positive impact our investment programme is having in providing property solutions for US and other overseas companies,” says Ray O’Driscoll, managing director of Shannon Commercial Properties.
Shannon Free Zone (SFZ) is one of Ireland’s largest multi-sectoral business parks and contains the largest concentration of North American companies in Ireland outside of Dublin. Shannon Commercial Properties has brought more than 650,000sq ft of new or upgraded office, manufacturing and warehouse facilities to the market at the Shannon Free Zone in the last four years.
Home to more than 170 companies employing more than 8,000 people, the Shannon Free Zone is one of the region’s core assets.
“The investment programme we have just completed – and our next phase of investment, which we will launch later this year – will bring significant new advanced manufacturing, warehousing and office space solutions to support the IDA-led drive for inward investment in the region,” O’Driscoll says.
Shannon is already the base for clusters of ICT, medical device, financial services, manufacturing, engineering and distribution companies. Companies in the SFZ include Jaguar Land Rover, Dell EMC, Intel, AerCap, GECAS, Lufthansa Technik, GE Sensing and Zimmer.
O’Driscoll is convinced the mid-west region has the winning ingredients to attract new US and other overseas investment in a post-Brexit environment.
“The proximity of Shannon Airport is a huge advantage for Shannon Commercial Properties. It means that our client companies at Shannon Free Zone, next to the airport, have ready access to the marketplace,” says O’Driscoll, who is positive about the potential Brexit fall-out.
“While there are undoubtedly challenges ahead with the uncertainty of Brexit, I believe that partnership is crucial. I am really encouraged by the level of commitment and pro-business approach of the city and county councils in the mid-west and west coast.
“Together with the great work that the American Chamber of Commerce Ireland, IDA Ireland and Enterprise Ireland are doing, there is a shared vision of the potential of our region. We are committed to ensuring that our region is to the forefront with overseas companies in a post-Brexit environment,” he says.