Key elements of the plan include a major €130m construction plan, increased numbers of spin-out companies, and a rise in numbers of mature, international and PhD students.
"We are the biggest employer in Galway City, a fast growing and dynamic University, and increasingly recognised internationally for our research and scholarship," said President Browne.
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"Our strategic plan enshrines not only our commitment to supporting the social, economic, industrial and cultural development of the region, but our national role in supporting economic recovery. The strategic plan also cements our research ambitions, which will bring further international recognition in our priority areas of expertise."
As part of the plan, five new buildings will be constructed, potentially creating hundreds of jobs in Galway City.
President Browne continued: "We will play our part in revitalising the economy and developing the Smart Economy.
"We will do this by taking advantage of the value now available in the building industry to address our capital deficit and put in place the infrastructure to grow our research effort and our graduate output."
(NS/KMcA)
