Annual wages totalling €22 million are paid to more than 220 employees of Beckman Coulter in East Clare, an economic impact assessment has shown.
The economic impact assessment carried out by independent market research experts Repucon revealed that the economic impact of the company was €183 million based on annual GVA (Gross Value Added) in 2023.
The report also shows that the employment income impact of the company for the regional economy in 2023 was €55 million, of which €22 million is provided through its 220 plus employees living in the county.
Over the next five years, Beckman Coulter’s regional employment income impact is projected to generate €380 million.
The O’Callaghan’s Mills pharmaceutical company contributed €34.691 million in wages and salaries to its 560 employees in 2022, according to accounts filed for the end of December 2022 to the Companies’ Registration Office (CRO).
Beckman Coulter Ireland, Lismeehan, O’Callaghan’s Mills, continues to see an increase in headcount, with an average of 560 employees in 2022 compared to 521 in 2021, due to increased activity and focus on research and development.
In 2022, the staff breakdown was production 173, administration 248 and research and development 139.
Wages and salaries grew from €32.279 million in 2021 to €34.691 million in 2022. Profit before taxation amounted to €15.1 million at the end of December 2022 compared to €16.4 million in 2021.
After a tax charge of €1.008 million was paid, a profit of €14 million has been transferred to retained earnings.
The company recently announced it will create an additional 80 jobs at O’Callaghan’s Mills as part of a €10 million investment in its East Clare site.
It is envisaged the investment will enhance the company’s world-class diagnostics production with the addition of two new fully automated reagent filling lines and upgrades to the site’s infrastructure, aimed at boosting both efficiency and capacity.
The company is actively hiring for 50 open roles and also announced 30 additional jobs arising, to be recruited between 2025 and 2027 for highly-skilled professionals at its Clare facility for key functions such as Production Operations, Quality and Regulatory Affairs, Research & Development amongst other areas.
Operating in East Clare since 2005, employment at the site is anticipated to rise to 600 jobs, with headcount figures having almost doubled since 2018.
Beckman Coulter’s Tipperary-born president Kevin O’Reilly, who was appointed earlier this year to lead the company and its 11,000 employees globally said he is incredibly happy about Beckman Coulter’s significant contributions to Ireland, not only to the local economy but also to enhancing healthcare every day.
EU Commissioner-designate Michael McGrath said, “Beckman Coulter is a superb case study of the impact of foreign direct investment in Ireland, including into rural communities. There are few settings more rural for an FDI than this site in East Clare.
“Yet Beckman Coulter produces cutting-edge diagnostic tools here that are critical to the delivery of healthcare across the globe and at the same time makes a massive economic impact on this area.
“This reflects brilliantly on Beckman Coulter, on the skills pool available in Ireland and on how big industry and the environment can cohabit perfectly here.”
East Clare correspondent, Dan Danaher is a journalism graduate of Rathmines and UL. He has won numerous awards for special investigations on health, justice, environment, and reports on news, agriculture, disability, mental health and community.