Tag Archives: economy

WORKERS at Moneypoint have been warned that the only way the plant can remain viable as a coal burning station even until 2025 is if they quickly accept the terms being offered to them, which would see at least 106 employees made redundant. A letter, sent by station manager Seán Hegarty to the workers, warned that the plan must be in place in just over two months. “The survival plan for Moneypoint is time-bound and has a limited shelf life. If this survival plan is rejected, there is not sufficient time for another process to conclude in time for the October 31 deadline, when this Voluntary Severance Scheme is closed and in time for bidding costs into the T-1 and T-2 auctions that give us a chance of success later in the year. In the absence of this survival plan, the existing costs of Moneypoint are not sustainable and will not continue.” The letter, which is extremely frank, also stated, …

ALMOST one in four of the Banner’s pubs closed down between 2005 and 2018. This week, the Drinks Industry Group of Ireland (DIGI) produced figures for the amount of pubs operating in each of the 26 counties in the Republic in 2005 and 2018. In the year 2005, as the Irish economy boomed, Clare had 373 pubs. However, last year the figure was down to 289, a drop of 22.5%. During the years in question, pubs had to deal with greater enforcement of drink driving and lower alcohol limits, as well as a very severe recession, while the smoking ban was introduced just nine months before the start of 2005. According to DIGI, the drinks and hospitality sector in Clare still enables 6,682 jobs and €285 million in tourism spend. The average county saw its number of pubs decline by 17.9%, so Clare is on the high side. Limerick was worst hit, with 27.8% of pubs closing and Dublin did …

WHOEVER was left in charge of the Dublin Airport Twitter account last week may have done Shannon an entirely unintended favour. Many thousands of people in Clare and indeed Limerick feel strongly about the success of the airport upon which the region’s economy depends and when Dublin Airport posted a ridiculous, self-regarding tweet about being the key gateway for the 2026 Ryder Cup in Adare, it really jarred. It has helped bring attention to the plight of our struggling airport and the fallout will show local politicians that they must take action to arrest its decline. The term fake news is derided because Donald Trump coined it and has aimed it at some of the most reputable media organisations in the world. Yet the depressing reality is that fake news is often widely believed nowadays, with ease of access to publication through social media and weak deterrents meaning that people are merrily spreading lies all around the world, every single …

THERE was a sense of hope and excitement in Kildysart this week, with news that €1.8 million has been allocated for the development of maritime and cruise liner-related training facilities at the disused school and convent in Cahercon. It is expected that a facility will be developed offering training in all sorts of activities related to marine industries, from piloting cruise liners to catering to mechanics for ships. Ultimately, it’s expected that private sector interests will develop the facility in the next couple of years, while a statement from Clare Deputy Pat Breen this week said that the National Maritime College of Ireland, which is based in Cork, will be central to providing the training. When it finally does open, it will bring a certain amount of new jobs and, presumably, a significant number of trainees and students to the nearby village. Such a development will be a major boost for Kildysart, the likes of which  it has not enjoyed …

AROUND 40 jobs are being shed from Digital river in Shannon, as the work is being transferred to Bulgaria. Laura May, vice-president of global delivery and commerce operations with the company, this week said, “We recently made a strategic decision to transition a part of our customer service business to an existing third-party provider, which resulted in a reduction of staff in our Shannon office. Digital river’s Shannon office continues to be a vital part of our global business and remains our largest European office, with no plans to relocate the remaining operations. “We have just concluded a consultation process within our Shannon office, where employee representatives were consulted with and came to agreement on several items related to the transition, including the redundancy package. “We are currently in the process of individual consultation with the at-risk employees and are committed to providing as much support as possible.” Minister of State Pat Breen said around 60 jobs will remain in …

US company Edwards Lifesciences Corportation has announced plans to employ 600 people in the Mid West, with 60 to be hired this year in Shannon. A global leader in medical innovations for structural heart disease and surgical monitoring, the company has chosen the Mid West as the site for a new plant to manufacture delivery components for its transcatheter heart valve therapies. It expects to begin hiring new employees in Shannon by June, in roles such as production staff, engineering and professional management. The company plans to have completed a new purpose built manufacturing facility in the Mid West in 2020. Once operational 600 people are to be employed. “On behalf of everyone in the Mid West I would like to warmly welcome Edwards Lifesciences to the region. Their presence here serves to highlight the attractiveness of the region as a destination for progressive, innovation-driven companies,” said Minister of State Pat Breen.

IDA IRELAND has announced the highest level of employment in its client companies in its history. Total employment in overseas companies, according to the Government agency responsible for attracting foreign direct investment (FDI), now stands at 199,877 people.   IDA client companies created just under 19,000 (18,627) jobs on the ground during the year across a range of sectors, with every region of Ireland posting net gains in jobs. THE IDA has completed two years of its five year strategy, Winning: Foreign Direct Investment 2015-2019 – with the latest results indicating a strong performance by the organisation towards delivering its 2019 target of 80,000 new jobs and 900 investments. The performance was produced against a background of unprecedented geopolitical changes, an underperforming European economy and intense competition from other jurisdictions for foreign direct investment. A record number of investments secured during the year rose to 244 from 213 in the previous year. The number of new name investments went to …

In a week dominated by aviation-related headlines, Shannon Chamber hosted a luncheon seminar where two key players in the tourism and travel sectors – Niall Gibbons, chief executive of Tourism Ireland and Suzanne Boda, senior vice president Asia, Canada, Europe and Cargo, American Airlines – were guest speakers. The lunch, sponsored by American Airlines, was held in the Radisson Blu Hotel, Limerick and attended by representatives from the business, tourism and hospitality sectors. Chamber president Kevin Thompstone said in his introductory remarks that access and connectivity is the key to increasing visitor numbers to the West of Ireland. “With just over 5% of international traffic to Ireland, Shannon delivers 15% of the West’s, 37% of Shannon’s and 12% of the South-West’s overseas holidaymaker bed nights. This demonstrates the link between access to Shannon and tourism activity in Shannon and the surrounding regions. The West has the product and the amenities and is proactively creating awareness, through Tourism Ireland, in international …