The Guinness Enterprise Centre (GEC) has today unveiled an ambitious development plan for its landmark building on Taylor’s Lane in Dublin 8.
Planning permission for the €10m redevelopment and expansion was lodged this week with Dublin City Council. It is estimated that 1,500 direct jobs are forecast for the next five years, while the Exchequer will also benefit from a €75m boost.
The Guinness Enterprise Centre opened for business in 2000 with the ambition of providing the environment and all the necessary supports to enable early stage businesses to grow and prosper. It has been the launch pad for hundreds of successful start-ups in Ireland, many of which now have a global footprint.
It is currently home to 85 companies with more than 400 employees on-site. Once completed, the expanded development will see the GEC as home to 160 companies with more than 750 employees and a further 220 co-working companies.
Subject to receiving planning approval, construction will begin later this year and the two additional floors in the building are expected to be completed before the end of 2020.
The GEC has partnered with more than 40 regional hubs in Ireland through its innovative CoConnect programme where regional start-ups can utilise the GEC when they are in Dublin.
In addition, the centre has partnered with more than 30 of the leading university Business Schools across the world giving entrepreneurs, both in the GEC and the regions, the opportunity to work with the universities on their strategic business challenges.
Speaking at the announcement, Lord Mayor of Dublin, Nial Ring said, "This expansion of the Guinness Enterprise Centre was made possible by Dublin City Council’s agreement to guarantee this refurbishment & expansion funding. We were pleased to do so in order that the GEC, which has been offering supports and affordable working spaces to start-ups and scaling micro enterprises since 1999, will develop further innovation at the heart of Dublin City."
Chairman of the GEC, David Varian added, "Building on our success to date this expansion enables us to deliver on our vision to scale the GEC to be a global entrepreneurial super-hub, interconnecting the regional centres in Ireland with our global university partners and thereby supporting the creation of world leading companies out of Ireland."
Source: www.businessworld.ie
