A €150m commercial development has been launched in Drogheda, with the promise of 300 much-needed jobs for the construction sector.

The 40-acre site, located near the M1 motorway, was officially unveiled by Justice Minister Dermot Ahern.

Developer PA Bello has revealed its plans for the Boyne Bridge Business Park, which represents a major infrastructural investment for the North East region.

When complete the park will comprise of 800,000 square feet of offices, starter units and logistical warehousing.

It is expected 1,350 people will be employed at the Boyne Bridge Business Park within five years.

Around 65% of these will be in office-based employment, with an additional 26% in warehousing and logistics operations and the remaining 9% in light industrial enterprises.

The project will also provide an estimated 300 full-time building jobs during the five-year construction phase of the project.

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Economist Dan Brennan, Fitzpatrick & Associates Economic Consultants, has said that the business park will also support 670 indirect jobs as it positively impacts on the surrounding area.

Boyne Bridge Business Park is strategically located with direct access to the M1 Motorway, linking Dublin and Belfast on the North/South trade corridor on which €3.1 billion is conducted annually.

Kevin McNulty, PA Bello Managing Director, said: "Boyne Bridge Business Park will bring jobs, investment and encourage industry and enterprise in the North East.

"The excellent accessibility and substantial cost savings on a company's overheads by locating here ensure that Boyne Bridge Business Park makes sense for business."

Minister Ahern said: "It is very encouraging to witness new business having the courage and foresight to recognise Ireland as a viable and commercially attractive location for business. With the potential for 1,350 new jobs to be created it is a huge and positive boost for the area and our economy as a whole."

The main thoroughfare in Boyne Bridge Business Park will feature a number of high profile office buildings and corporate headquarters which will include innovative design and will range in size from 500 square metres upwards.

The rear section of the development, set in secure landscaped grounds, will be dedicated to warehousing units.

Boyne Bridge Business Park is being designed by Project Architects who have recently completed the Park West office and commercial development and the Liffey Valley office campus.

(PR/JM)