This article is from page 16 of the 2013-12-17 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 16 JPG
MOVES to change the name of the Shannon Free Zone in an effort attract new international business has been sounded out by the former chief executive of Shannon Development, Kevin Thompstone.
Mr Thompstone, the current president of Shannon Chamber of Commerce, has suggested that a rebranding and name change could be the way forward for strengthening the region’s scope.
“Shannon Economic City or Shannon Economic Zone might better reinforce the concept that Shannon is not just a business park but a Special Economic Zone in Ireland offering a mix of airport, industrial, residential, commercial and green areas to facilitate economic activity,” Mr Thompstone told an audience of almost 300 business people at the Shannon Chamber of Commerce president’s lunch in Dromoland Castle on Thursday.
The keynote address was given by Barry O’Leary, IDA Ireland’s chief executive who highlighted Shannon’s potential as an international investment location.
“IDA is looking forward to working on behalf of Shannon and the wider region under a new structure. Our aim will be to support com- panies in the region, helping them transform their operations and also expand over time,” he said.
“IDA is pleased to place the full suite of IDA products, services and know-how at the disposal of companies, as part of a new drive to bolster the region into the future.”
While saddened to lose a part of Ireland’s economic development structure, Mr Thompstone acknowledged the imprint Shannon Development has made in the region but welcomed the fact that the focus is now back on growing Shannon just as it was when the story started back in 1960.
“With over 7,000 people employed in over 100 companies, generating over € 600 million annually for the local economy and € 3 billion in annual sales, 90 per cent of which are to export markets and, and with the highest concentration of North American companies in Ireland, outside Dublin, Shannon has a very solid base and a diverse sectoral spread of activities.
“Global names such as Intel, GE Lufthansa and Genworth sit comfortably with long-established businesses such as Element Six, SPS and Molex and with Irish names such as EI Electronics, Reagecon and Mincon. Shannon’s future is now about building on what it has and adding new types and levels of activities.”