A €20m research institute supported by the IDA has been formally opened by the Minister for Enterprise, Trade and Employment in Athlone, CoWestmeath today.
Georgia Tech Research Institute (GTRI) of Atlanta, Georgia in the US, has established the centre to carry out R&D for industry.
It is based at the IDA Business and Technology Park in the town.
Mr Martin said: "GTRI Ireland will be a significant addition to Ireland's R&D capability and infrastructure and is especially important in that it will enhance the competitiveness of Ireland to attract cutting-edge industry research, particularly from multinational companies."
GTRI is the applied research arm of Georgia Institute of Technology, which claims to be home to the largest engineering college in the US and to be third among all US universities for the volume of engineering research and development conducted.
The Irish centre is its first research facility outside the US.
GTRI plans to build a portfolio of research programmes in excess of €20 million in collaboration with industry here over the next five years. When fully operational, it will employ 50 highly qualified researchers.
The employers' body Ibec welcomed the opening of GTRI and said it was a major boost to research and development in Ireland.
Siobhan Masterson, Ibec R&D executive, said: 'This is a great coup and will help establish Ireland as a top location for world class research and development. Business decisions on the location of global R&D activities are determined by the calibre of researchers and the quality of their work. Georgia Tech will help ensure that Ireland has the required expertise."
Ms Masterson said today's announcement also highlighted the need for the Government to publish the National Science Technology and Innovation Strategic Plan "without further delay".
"As part of the national strategy, business expenditure on R&D must double to 1.7% of GNP by 2013. Industry investment in R&D totalled 1,150 million in 2004, up from 988 million in 2002. This trend seems set to continue, with major R&D investment announcements from a number of high profiled companies: IBM, Xilinx, Bell Labs, Wyeth, Glanbia, Pfizer," Ms Masterson said.