In December 2018, AM O’Sullivan PR worked with a group of nine life sciences companies situated in the Lower Harbour and East Cork areas in Cork to produce the second consecutive Life Sciences supplement in association with the Irish Examiner. The life sciences industry truly is one of Ireland’s greatest success stories, which has grown massively over the past 50 years.
The supplement highlights the success of the industry with in-depth analysis of each of the companies’ individual industries, the notable contributions they make to the Irish economy and their on-going community relations projects. The supplement also looks at some of the reasons these companies have located in the area from the culinary exploits of Cork to the over 1,000 kms of coastline that stretch across the entire county, not to mention the ease of access through the international airport and port.
The life sciences sector now directly employs over 60,000 people in Ireland and is worth €45 billion in exports to the economy here. Over the past ten years, the industry has invested €10 billion here and Ireland is home to all ten of the top ten global pharma companies and 14 out of the world’s top 15 multinationals have operations in Ireland.
Other key insights highlighted in the supplement include:
- Cork is the most important hub for the Life Sciences sector, with key locations including Ringaskiddy, Little Island and Carrigtwohill.
- Cork City and County’s combined workforce equates to 257,603. 50% of these are under the age of 35.
- Cork is ranked #1 for business friendliness among small European cities.
- IDA Ireland supports 158 companies in Ireland, with direct employment of 35,248 people.
- 97% of people travel to their place of employment in a vehicle. Traffic congestion is a key obstacle for people working in the sector, however planning permission has been granted for the construction of the M28 which will go a long way to alleviating a lot of the traffic issues.
- Cork is a university city and a significant centre for third level education with over 31,000 students enrolled in UCC and CIT, among others, producing 10,000 graduates per year.
- FDI companies in Ringaskiddy have invested over €2.4 billion alone in the region over the past 20 years.