The Midlands region has been recognised as a ‘European Region of the Future’ by the Financial Times as part of their latest fDi Intelligence ranking on FDI Strategy.
This prestigious acknowledgment reflects the region’s outstanding achievements and potential for future growth, as outlined in the Midlands Regional Enterprise Plan (MREP ) to 2024.
Enterprise in the Midlands region continues to thrive, driven by the collaborative efforts of the Midlands Regional Enterprise Plan steering committee comprising key regional stakeholders from enterprise, government, and academia.
Speaking this week, Dr Anne Cusack, Chair of the Midlands Regional Enterprise Plan, emphasised the significance of this recognition.
“Being listed as one of the European Small Regions of the Future is a testament to the hard work and dedication of everyone involved in the Midlands Regional Enterprise Plan. The Midlands is Ireland’s most connected region, and we are maximising opportunities for economic growth through our three strategic objectives focusing on sustainability, digitalisation, and placemaking,” Dr Cusack said.
The latest IDA Ireland annual report further underscores the region’s success, with the Midlands region being the fastest-growing region for FDI jobs growth in 2023, witnessing a remarkable 5.8% year-on-year growth at IDA client companies. Growth in indigenous Irish businesses in the region has also been strong, with each of the region’s four Local Enterprise Offices also showing increased employment at their client companies in the region in 2023.
The annual growth is part of a trend in recent years of consistent employment growth among companies in the region, which has seen a sustained increase in employment participation rates.
The MREP outlines three strategic objectives, underpinned by ten actions, to foster regional development:
Transition to a net-zero carbon region.
Continued development through smart specialisation in recognised regional strengths in ICT, Manufacturing, Engineering and Food & Drink.
Placemaking - positioning the Midlands as the destination of choice for investment, business, and growth.
Key high-growth sectors, represented by regional cluster groups, include advanced manufacturing, ICT, engineering and food and drink. Placemaking is central to the region’s investment promotion initiatives, highlighting it as an ideal destination for living, working, visiting, studying, and investing through the Midlands Ireland platform, www.midlandsireland.ie
This dedicated digital platform focuses on engaging, informing, and attracting audiences, while the Midlands ICT Cluster drives digital innovation across all sectors, whilst embedding Science, Technology, Engineering & Maths (STEM ) education in primary and secondary schools across the region.
Recent investment announcements in the region include an €85m investment by Danish pharma multinational Novo Nordisk to purchase their first Irish manufacturing and development facility in Athlone.
The region’s strong support framework also helps to maintain robust connections with businesses through enterprise agencies, Local Enterprise Offices, industry clusters, Chamber organisations and the Midlands Network of Co-Working Facilities, which offers over 30 landing space locations. Technological University of the Shannon, Midlands Regional Skills Forum, along with Education and Training boards are working to ensure skill development aligns with enterprise needs.
Troy Welcomes recognition
Local Fianna Fáil Deputy Robert Troy welcomed the recognition noting that the region’s enormous potential for future growth, as outlined in the MREP to 2024 merits its recognition as a ‘European Region of the Future’.
“When I launched the MREP to 2024 it was my intention to bring together public and private sectors across Westmeath and the Midlands to address the challenges unique to our region and identify and put in place measures to seize the opportunities now and into the future.
“I want to particularly congratulate Dr Anne Cusack, Chair of the MREP. During my time as Minister for Trade Promotion, Digital and Company Regulation, I had the pleasure of working closely with Anne and all stakeholders involved with drafting this Plan so I know that this listing is deserved recognition of all the hard work that has been done.
“This award will help with the promotion of the Midlands region. It continues to see significant FDI investment and has a strong framework for indigenous businesses through connections such as Enterprise Agencies and Local Enterprise Offices. The region deserves this listing and I know that all stakeholders will continue to work closely to maximise opportunities for businesses and communities into the future,” Deputy Troy stated.
