Plans have been approved to create a new €20 million Harbour Innovation Campus in Dún Laoghaire, Co Dublin.

The former ferry passenger terminal on St Michael's Pier will be transformed into a new 7,000 sq m digital technology hub, one of the largest of its kind in Ireland.

The development, which will support up to 1,000 jobs, will act as a one-stop shop for companies that want to rapidly apply advances in technologies such as IoT, blockchain, artificial intelligence, augmented reality, block chain, cyber security, data analytics and 5G, to sectors such as agriculture, health, finance, manufacturing and finance. Features of the facility will include accelerator programs, meet up space, training rooms, a café, meetings rooms and 'maker' space.

The outside of the iconic building will remain unchanged. The internal fit out is expected to start next month, with the building ready to open in spring next year.

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Philip Gannon, the founder, Chief Executive Officer and private investor behind the project, said: "We have received overwhelming support from local residents and businesses who all understand the huge benefits that this project will bring to the area.

"This culturally significant building has been lying empty for over four years and is quickly falling into a state of dereliction and decay. A place where people used to go to emigrate will now become world-class innovation space that will showcase Ireland's capabilities in technology, create employment and bring social and economic prosperity not only to Dún Laoghaire and the surrounding areas, but the country as a whole."

Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD, added: "I am pleased with the news from the Harbour Innovation Campus on the creation of a new Digital Innovation Hub. The type of co-operation between large multinationals, SMEs and academics that occurs in these hubs can generate exciting opportunities."

Owen Laverty, Head of Enterprise and Economics DLR, added: "The development of the old ferry terminal into a leading innovation campus supporting collaboration and innovation is important for DLR. The HIC strongly aligns with our aims of growing DLR's reputation as a premier destination for technology companies to innovate and grow, I look forward to working with the HIC team in realising this goal."

(LM)