Thurles

Shannon Development commited to North Tipp

SHANNON DEVELOPMENT REAFFIRMS ITS COMMITMENT TO NORTH TIPPERARY BY ANNOUNCING A NEW EUR3.5M DEVELOPMENT AT TIPPERARY TECHNOLOGY PARK

Total investment at Tipperary Technology Park now EUR7.3 million

Shannon Development has today (Thursday 12th March '09) reaffirmed its commitment to the economic development of North Tipperary by announcing the appointment of Glenman Corporation Ltd., Building and Civil Engineering Contractor, to undertake a EUR3.5 million expansion at Tipperary Technology Park (TTP) in Thurles, Co. Tipperary.

"In turbulent economic times it is critical that we continue to invest in high quality infrastructure to entice potential investors. We must send an unequivocal message to all developers, investors and entrepreneurs, that Ireland is still an attractive and competitive business location, with a skilled, highly educated, and flexible workforce. This is why Shannon Development is undertaking this EUR3.5 investment at our Tipperary Technology Park. By doing so we are sending a clear message that we are open for business," says Vincent Cunnane, Chief Executive, Shannon Development.

Since opening the TTP in 2000, Shannon Development has invested EUR3.8 million in developing two buildings at the Park to provide property solutions for indigenous and foreign direct investors, both of these building are almost fully occupied. This third building will bring total investment at the Park to EUR7.3 million.

Construction will start on the 18th March and is due for completion by the end of this year. Work will involve the construction of a new 21,500 sq. ft. 2-storey office building, and associated site works including the doubling of the existing car parking area to provide a total of 165 spaces to serve the entire Park. The design concept for the new building to be known as InnovationWorks3 (IW3) comprises an innovative, elegant and modern model encompassing good environmental treatment, creating a sustainable flexible working environment within Tipperary Technology Park.

"By having a property portfolio which includes a variety of available space, from turn-key state of the art office accommodation, to distribution/warehousing space, the demands of both local and international interest can be met. It is therefore crucial that we have a range of up to date accommodation readily available to meet demands and stimulate interest in such a competitive environment - opportunities must never be lost!" Mr. Cunnane added.

The current Park comprises two buildings 20,000sq.ft (IW1), and 5,000sq. ft. (IW2), respectively accommodating 11 companies operating nationally and internationally. The Park is home to a number of inward investment projects and has a core facility for incubating and growing new Irish technology companies. Clients range from those operating in the cutting edge sphere of nano-biomaterials, to clients in digital cinema and the international services sector.

"Among the strong selling points that Thurles and Tippeary Technology Park has to attract industrialists is an exceptional quality of life, clean environment, lack of congestion and affordable housing in comparison with other urban centres. The marketing of the new building will be undertaken by Shannon Development. Thurles Marketing Group and the Tipperary Ambassadors will also work to generate market interest," says Brian Keating, Development Manager Tipperary Technology Park.

The Park is one of five Shannon Development Knowledge Network business parks developed around the Shannon Region to cater for the needs of investors and business entrepreneurs. Other locations are: the National Technology Park (NTP) in Limerick; Birr Technology Centre in Co. Offaly; Kerry Technology Park in Tralee; and the Information Age Park in Ennis, Co. Clare.