Galway Technology Centre, (GTC) is to announce details of their new AcademyWest expansion, which is expected to generate a cumulative total of 12,500 jobs for the West over the next 15 years and estimated investment of €1.4 billion.
The expansion project is being strongly facilitated by Enterprise Ireland, who provide ongoing support to Galway Technology Centre. The centre is a social enterprise jointly owned by Galway Chamber and WestBIC.
The AcademyWest project will have a particular focus on facilitating rapid scaling for start ups and other innovation driven enterprises, as well as growing ICT businesses in need of second sites. The 22,000 square foot expansion will see the total floor area of GTC extend to 72,000 square feet, with the number of floors in the facility growing from two to four.
The project will also include dedicated conferencing and meeting space and which GTC say will address a critical capacity barrier in the existing centre. When complete the development will enable GTC to become an even greater focal point for the expanding tech cluster throughout Galway and the west of Ireland.
The impact of the expansion is expected to see 828 new jobs and €62.4m in investment generated per annum by Year 5, growing to 1,689 new jobs and €127.3m per annum by Year 10 and on to 2,517 new jobs and €189.7m per annum by Year 15. This will bring the cumulative total to over 12,500 jobs and €1.4 billion over the next 15 years.
The plans will be revealed during a special anniversary event celebrating over 25 years of GTC. Participants in the virtual Scaling Our Legacy broadcast will include An Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar.
Commenting on the project, Acting Manager of GTC, Noreen Conway said, "The AcademyWest expansion represents a significant new phase in the life of Galway Technology Centre. It will drive substantial employment growth, while expanding the technology cluster and knowledge economy throughout Galway and the West over the coming years. This enhanced modern facility will have a further transformative effect on the regional ICT ecosystem. It will help attract and retain dynamic high performance startups who wish to scale their enterprise and also act as a second site for growing, innovative companies."
She added, "Once the AcademyWest expansion is complete it will facilitate businesses who are expected to generate over 12,500 jobs and €1.4 billion investment on a cumulative basis over the next 15 years. The scope and benefits of this project will be felt across Galway and throughout the entire region. It will make Galway Technology Centre a beacon for innovation across the west of Ireland. On a day when we celebrate the history of Galway Technology Centre, we are excited to be firmly placing a foot towards our dynamic future."
Source: www.businessworld.ie
