Zeus Industrial Products, an American medical device manufacturer, is to create 150 jobs in Co Donegal with the opening of a European operations centre in Letterkenny.
The South Carolina-based company will invest more than $7 million (€5.7 million) in the premises, machinery and equipment. More than a fifth of the 150 staff taken on over the next five years will be third-level graduates, earning more than €37,000 a year.
Yesterday's announcement comes only a day after Powerboard, a Donegal-based electrical components firm, said that it would create 65 new jobs over the coming three years. It also follows a series of major closures in the Donegal manufacturing sector, including Clubman Omega and Unifi.
Both projects are supported by IDA Ireland.
Minister for Enterprise, Trade and Employment Micheál Martin welcomed the announcements, saying they brought substantive benefits to an area that was in need of increased investment.
"Today's investment by Zeus is a very welcome one for Donegal and the northwest region particularly in the light of the difficulties experienced in the area recently," said Mr Martin. "Coupled with 65 new jobs announced in Powerboard yesterday, this brings to 215 the total number of new jobs announced for Donegal this week."
He said the Government had made it a priority to secure high-quality investments by multinational companies for the area and would continue to do so.
John Worley, president and chief operating officer of Zeus, said the availability of highly-skilled and educated people, the favourable business environment and strong national support had played a large factor in the decision to locate the new operation in Letterkenny. It will be based in the IDA's Letterkenny business and technology park.
Donegal Co Council chairman Dessie Larkin welcomed the announcement, saying it showed confidence and belief in Letterkenny. "We have a highly skilled local workforce, and this, combined with strong links with Letterkenny Institute of Technology and the quality of life is helping to attract outside investors to the town," he said.
The new Powerboard operation will be located in Burnfoot and will design, develop and manufacture electrical enclosures and switch gear for export to European markets.
The firm is being established by Philip O'Doherty, who last year set up another electrical components company, Powerbar, which now employs 40 people. It manufactures components that are used as an alternative to electrical cabling.
The new company is part of a plan to develop a "family of products", according to Mr Doherty, and it has linked up with the Letterkenny Institute of Technology's mechanical engineering department to explore further projects.
"If you are serious about manufacturing in Ireland you must have a product range that is well marketed, and research and development (R&D)," he said.
Mr Doherty's businesses will be in competition with several large operators, but he feels that they will have a cost and technical advantage by being market-led with an ongoing R&D programme.
The new venture is being supported by Enterprise Ireland's high potential start-up unit.
Commenting on the Powerboard jobs, Mr Martin said that he was particularly pleased that the new positions included a 14-person R&D team. "Growing the number and scale of new start-up exporting companies is very important in developing and sustaining our regional economies," he said.
