Johnson & Johnson Vision Care is to invest over € 100 million in an expansion of its manufacturing operations at its site in the National Technology Park, Plassey, Limerick.
The construction phase will take about 18 months and is expected to create about 200 temporary positions.
Dr Mark Benson, vice president supply chain, consumer medical devices with Johnson & Johnson said: "Limerick was chosen for this strategically important investment because of its track record over many years in providing quality products and excellent customer service to markets around the globe."
Johnson & Johnson, which trades as Vistakon Ireland in Limerick, came to the city in in 1996 and is one of several Johnson & Johnson companies operating in Ireland, altogether employing approximately 2,500 people.
Richard Bruton, Minister for Jobs, Enterprise and Innovation, said that the announcement was a "really important boost" for the mid-west.
“Life sciences is a key sector which we have targeted as part of our Action Plan for Jobs, and in recent years we have seen an impressive jobs performance in this area,” he said.