Introduction
Ladies and Gentlemen, I am delighted to be here this morning for the official opening of Merit Medical Ireland’s new facility ‘Merit Vision’.
I would like to extend a warm welcome to CEO and Chairman Fred Lampropoulos and to board member Scott Anderson who have travelled from the US to be here today.
I would also like to extend my thanks to Mark Butler, Vice President of European Operations, for inviting me here today.
Investment in Galway
The announcement today by Merit Medical of the creation of 200 new jobs is very welcome, and is a sign of confidence in Ireland and in the people of Galway.
This marks a significant investment of €20 million in this facility at the Parkmore Business Park East.
This investment is supported by the Irish Government through IDA Ireland.
I would like to pay tribute to Merit and IDA Ireland for bringing this development to fruition.
Merit is an excellent employer in the West and is a key player in the medical device industry operating successfully in the region.
Merit has been a valued member of the business community in Galway for the past 18 years with 379 jobs now supported at this location. This has enormous wider economic benefits for Galway and its hinterland.
The reality of today’s investment means that the new facility will more than double the capacity of Merit Medical in Galway.
That investment will build on Merit’s R&D activities and greatly add to Ireland’s reputation as a global hub for research in medical devices.
Merit Medical
Merit’s staff and researchers are exploring new frontiers of medical science. Their work in these buildings will have huge health benefits for thousands of people around the world.
What’s more is that their work in the medical device industry is an important contributor to the Irish economy and greatly contributes to Ireland’s export led recovery.
Ireland boasts an enviable cluster of medical device companies with 17 of the top 25 global medical device companies having a significant presence here.
Ireland is the second largest exporter in Europe behind Germany.
Around 15% of total medical equipment and supplies imported into the US in 2010 came from Ireland.
It is estimated that medical technology companies in Ireland employ 25,000 people across the country with many here in Galway.
Recent investments from companies like SAP, Cisco, HP, Mylan, NEI, C&F Green Energy and SourceDogg.com highlight the dynamism of Galway and of the west of Ireland.
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I want to continue and grow this strong flow of investment in the future...for our future.
We must put a real focus on the potential of the single European market for the creation of jobs for our people.
I am pleased to say that, following pressure from several heads of government including myself, growth and jobs have now become central to the agenda of the European Council.
Conclusion
But for today I want to say that this is another great announcement for Galway.
The Government is focused on improving the conditions for business, and on ensuring that companies like Merit continue to invest here.
Finally, I wish staff and management every success with this investment and offer the support of the Irish Government into the future.
ENDS