US ELECTRONICS firm Analog Devices is to create 100 jobs in Limerick as part of a €50 million investment in research and development.
The high-skilled positions will become available over the next five years in integrated circuit design and applications engineering.
It is expected that an additional 130 construction jobs will be created in the construction of a 140,000sq ft research and development centre and a specialised laboratory as part of the investment.
More than 1,000 people are employed in manufacturing and design at the firm, which set up in Limerick in 1977. Last year the Boston-based semi-conductor manufacturer announced an investment of €23 million in research and development at its Limerick plant. The latest programme is supported by the Government through the IDA.
Speaking at yesterday’s announcement, Jerald Fishman, president and chief executive of Analog Devices, described the Limerick facility as a “strategic part” of the company’s global operations.
Welcoming the announcement in Limerick yesterday, Minister for Enterprise, Jobs and Innovation Richard Bruton described it as a “brave investment” by Analog, which was testament to the company’s foresight.
Meanwhile, despite 220 job losses announced by US-based finance company Northern Trust in Dublin yesterday, Mr Bruton said the outlook for the financial services sector in Ireland was “extremely positive”. “Of course job losses are happening, and that is disappointing, but the other side of the financial services sector where the bulk of these job losses have occurred is that the story is very positive,” Mr Bruton said.
Northern Trust confirmed that as well as the Dublin job cuts a further 50 jobs in Belfast and London would also be lost. The move follows the group’s acquisition of Bank of Ireland Securities Services last month in a deal valued at up to €60 million.
Northern Trust also said 80 roles were to be transferred to the firm’s fund administration operation in Limerick over 18 months.
It would continue to employ some 800 people in Ireland following its restructuring.