This article is from page 13 of the 2012-03-06 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 13 JPG
THE inspiration for the establishment of Shannon Development in 1959 was Clare’s international airport which then enjoyed the status of the hub of the aviation.
Now, over half a century on and in a complete role reversal, the flagship development and tourism agency in the mid-west region has been challenged to play its part in securing the future of Shannon Airport.
The Booz and Company report, in outlining the advantages of sepa- rating the airport from Dublin Airport Authroity control, has said that Shannon Development would have a huge role to play in helping develop “niche business opportunities” under a new operation model.
This would envisage a model that would see control for the airport vested in a holding company made up of public/private interests.
“The airport lacks sufficient integration with the surrounding land bank, with the current management having no function in developing alternative ventures with a mixed aero-industrial complex,” the Booz and Company report states.
“The airport covers an area of 2,000 acres of which 25 per cent is development land, and the airport is adjointed by the Shannon Free Zone.
“There is also a business and technology park of around 600 acres that is also owned and managed by Shannon Development.
“Other benefits are linked to its geographical position and roles as an airport that provides 24-hour operations each day of the year,” the report adds.
The consultants’ report has highlighted the need for “the Govern- ment to better integrate the airport with surrounding industrial developments, and in particular the Shannon Free Zone, which is currently owned and managed by Shannon Development”.
And, the prospect of Shannon Development parting with some of its sizeable landbank if private interests are to be attracted to investing in the airport.
Booz and Company say that for an airport like Shannon “to be attractive to private sector participation, investors could be granted assets that can generate income, such as develop- ment land or commercial property.
“In this context, the viability of Shannon would be enhanced via a structure that enables the better utilisation of development land within the current boundary estimated to be around 5,000 acres, as well as in leveraging the adjoinging Shannon Free Zone,” it adds.
Shannon Development Company has declined to comment on the contents of the Booz and Company report, only to say it was “currently reviewing the redacted version of the report and has no further comment at this time”.