Speech by the Taoiseach, Mr. Brian Cowen, T.D., at the Official Opening of Covidien's European Services Centre, Cherrywood, Tuesday, 20th July, 2010, 12 pm.
Go mbeannaí Dia dhaoibh a dhaoine uaisle.
Tá áthas orm a bheith anseo inniu ag oscailt oifigiúil Ionad Seirbhísí Eorpach Covidien.
Tugann sé deis dom chomh maith comhghairdeas a dhéanamh le Covidien ar a tionscnaimh amach anseo agus fáiltím roimh a thiomántas leanúnach i dtreo nuálacht.
Minister, Ladies and Gentlemen,
It is a great pleasure to be with you here today. I would like to thank the President and CEO of Covidien, Richard J. Meelia, for inviting me to officially open Covidien’s new European Services Centre.
This is a most impressive facility and will provide the platform for Covidien to deliver its customer services across Europe, and to parts of the Middle East.
Today’s event is excellent news for Ireland. Having a company of this calibre establish its European Services Centre in Ireland, is very significant and very welcome.
In addition to the 200 jobs created and the investment of €11 million by Covidien in this centre, I am delighted to learn of the company's plans for new investment in Research & Development in Ireland and look forward to hearing the details later in the year.
Last week, I launched the fifth round of the Programme for Research in Third Level Institutions (PRTLI). This involves a €360 million investment in research, innovation and jobs. Many of these investments will drive industry-academic collaboration – and we need that strong focus on commercialisation of research and close relationships with enterprise to support economic renewal and create sustainable jobs.
This new centre in Cherrywood and today’s announcement of new investment in collaborative Research & Development are fully in keeping with the Government’s policy to build a Smart Economy and to position Ireland as a Global Innovation Hub.
We want to make Ireland:
- the best place in Europe to turn research and knowledge into products and services;
- the best place in Europe to start and grow an innovative company;
- the best place in Europe to relocate or expand and scale an SME; and
- the best place in Europe for research-intensive multinationals to collaborate with each other and with clusters of small companies.
Foreign Direct Investment is hugely significant to our economy. IDA client firms contribute 55% of the corporation tax paid, account for over 70% of total exports, contribute almost three quarters of business spend on R&D and are responsible for 240,000 jobs and over €19 billion spend in the economy.
Ireland is recognised globally as a centre of excellence for the MedTech sector, having the leading cluster of MedTech industries in Europe. Including Covidien, fifteen of the top twenty global companies have a manufacturing base in this country.
We do not take this investment for granted. We know that we need to be competitive, provide the best facilities and infrastructure and continue to produce a well-educated workforce to retain and increase our community of multi national companies.
The IDA is also targeting services based investment as part of its Horizon 2020 strategy, so the attraction of this International Services Centre is very welcome progress in this area.
Conclusion
On my recent visit to the United States, I emphasised that the recovery in Ireland is underway. Our economy has turned the corner and our priority now must be to attract and retain sustainable Irish jobs. Attracting strategic investments such as this one is a vital element of our renewal strategy.
I would like to thank the management and staff of Covidien for the role they have played in helping to secure this European Services Centre for Ireland. My thanks also to Barry O’Leary and his team at IDA who have been instrumental in winning this, and so many other key investments for Ireland.
I would like to wish Covidien every success in your new facility.
Go raibh maith agaibh.