A US pharmaceutical firm that was to create 1,300 jobs in Co Longford is understood to be deferring the project.
A statement from Ohio-based Cardinal Healthcare is expected later today but it is understood the project will be delayed for a minimum of two years.
The news will come as a major blow to the county, which had been promised the new jobs as part of the company's expansion of operations announced by the Tánaiste Ms Mary Harney in December 2000.
Fine Gael Senator Mr James Bannon said Fianna Fáil and the Progressive Democrats owe the people of Longford an immediate apology for buying the election in the constituency with a promise of over 1,300 jobs that will not now be delivered for at least another two years.
Senator Bannon said the Government parties had cynically exploited the urgent need for investment in Longford for their own political ends.