The news that biopharmaceutical giant Regeneron is to proceed with plans to establish a state-of-the-art manufacturing facility in Limerick by 2016 is very positive news for the City according to Minister Jan O'Sullivan.

She said: "It was confirmed that Regeneron plans to invest more than €200m and create 300 high skilled jobs in Limerick. This is great news for Limerick and confirms the City’s reputation as a major hub for inward investment.

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"Regeneron is one of the world's leading biopharmaceutical companies and today’s announcement will lead, in the first instance to approximately 600 jobs in the construction phase of the new project and bring high quality permanent jobs when manufacturing begins in Limerick. It is the company's first investment in a manufacturing facility outside the US and Limerick will now become a key location for the company in Europe.

"The fact that the company will revamp the former Dell facility in Raheen is a major boost for Limerick. The closure of part of Dell's operation in 2009 with the loss of 1900 jobs was a bodyblow for the Limerick economy. This announcement that the empty facility will again become a state-of-the-art employment hub is a very positive sign."

(CD/MH)