Fexco opens €21m research and development centre in Kerry

Fexco has opened a €21 million research and development facility in Killorglin, Co Kerry.

Dedicated to Stanford University computer scientist John McCarthy, the 57,000 sq ft building houses Fexco's Research Development and Innovation Centre, and digital innovation centre RDI Hub, a not-for-profit public private partnership focused on the commercialisation of innovation and research and backed by Fexco, IT Tralee and Kerry County Council.

Some 125 Fexco staff will be located at the building, replacing a manufacturing facility that was closed in 2012. Fexco said the operation is aimed at driving its continuing development as a leading global fintech company.

“This new building signals our commitment to providing world-class innovative fintech solutions to a global audience as well as supporting our local community, through job creation and local investment,” said Denis McCarthy, chief executive of Fexco. “Since our foundation in Killorglin in 1981 we have been able to grow our business to employ over 2,500 people in 29 countries, whilst keeping our headquarters and the driving force of the business at home here in Kerry.”

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The colocated RDI Hub is set to create 305 jobs by 2024. Established last year, the hub facilitates innovation and supports start-ups in the fintech and artificial intelligence sectors.

RDI Hub was established last year as a not for profit public-private partnership facilitating innovation and start-ups in the fintech and artificial intelligence (AI) sectors. It plans to support the establishment of 35 high-tech funded start-ups initially, providing training to more than 1,300 participants and supporting 140 apprentices in its first five years.

"The new building Fexco has constructed here in Killorglin is a symbol of the diversification of the economy of the region from its past to a new high-tech future," said Julie Sinnamon, chief executive of Enterprise Ireland. "Fexco and RDI Hub will help strengthen the southwest's position as a globally connected financial services and ICT skills hotspot, providing high quality jobs and supporting innovation and entrepreneurship."