The Georgia Institute of Technology, the largest US engineering college, will set up its first overseas institute in Athlone to focus on the research and development needs of companies operating in Ireland.
The Georgia Tech Research Institute, the applied research unit of the Atlanta-based technology college, plans to employ as many as 50 highly qualified researchers at a new institute in the IDA Business and Technology Park in Athlone, the Minister for Enterprise, Trade and Employment, Micheál Martin, announced yesterday.
Employers' body Ibec described the college's plan as a "great coup" for research and development in Ireland. It follows recent major R&D investment announcements from companies such as IBM, Bell Labs, Wyeth and Pfizer.
"This will help establish Ireland as a top location for world-class research and development," said Siobhán Masterson, Ibec's R&D executive. "Georgia Tech is one of the United States's top research universities in the area of science and technology."
The Georgia Tech Research Institute, which conducts the third-largest volume of engineering research and development of all US universities, expects to carry out research programmes and industry collaborations worth more than €20 million in Athlone over the next five years.
Applied research institutes specialise in using technologies to prove whether ideas have the potential to become commercially viable. The Irish operation of the Georgia institute will aim to bring new technological solutions to address the industry and market needs of companies in Ireland. It also plans to work closely with Irish educational and research institutions.
Mr Martin said its work will be "especially important in that it will enhance the competitiveness of Ireland to attract cutting-edge industry research".