An IDA Ireland grants package for a 320-job development at the SmithKline Beecham (SKB) plant in Cork was approved yesterday by the Cabinet.
Announcing the decision the Tanaiste, Ms Harney, said the project - involving a total investment of £219 million - was one of the biggest to receive IDA support this year.
The 320 jobs are to be created over five years at the company's Carrigaline plant, with 150 of these to be filled within two years.
Ms Harney said that in addition to these jobs, major employment opportunities would be created in the construction and services sectors during the building and fit-out phase of the new development.
The project involves an expansion of SKB's manufacturing capacity and a "significant" research and development initiative involving the establishment of a "development pilot plant", where products will be manufactured at their early stages of development.
"The R&D initiative, and being given responsibility for the launch of major new and pioneering products, are significant endorsements of the company's Irish facilities," said Ms Harney. "It will establish Cork as a strategic facility within the group's worldwide supply structure."
The expansion is to provide additional capacity for the manufacture of seven new products for a range of categories such as depression, osteoporosis, ovarian cancer, congestive heart failure and epilepsy. It will also boost the company's production capacity for existing products.
SmithKline Beecham has two healthcare manufacturing operations in Ireland, employing 440 people in Cork and Dungarvan, Co Waterford, plus a sales and marketing operation in Dublin.
Worldwide the company, which has headquarters in Brentford in England, employs 52,000 in over 120 locations. Its worldwide activities are in three main divisions - pharmaceuticals, consumer healthcare and clinical laboratories.
Ms Harney said the project announced yesterday had been driven by a strong and committed management team and workforce in the Cork operation.
"I congratulate them on winning this investment. It is a strong investment by a strong international company and once again is a great endorsement of Ireland's competitive lead in the pharmaceuticals sector."
