June 1, 2020
Business News

Déise rising: Waterford named one of Europe’s cities with ‘greatest economic potential’

Waterford city is among the best micro cities in Europe to invest in.

That’s according to the influential Financial Times newspaper, which also described the South East as the “best small region” in Europe for foreign direct investment (FDI) strategy to aid companies looking to invest in Europe.

The findings are contained the Financial Times Foreign Direct Investment Report – European Cities and Regions of the Future 2020/21 – published this week.

The South East was named one of the top 10 regions in Europe for economic potential.

Waterford broke into the top 10 list in three categories: European Micro Cities of the Future (8th), European Micro Cities with the greatest Economic Potential (5th) and European Micro Cities with a defined FDI strategy (7th).

The report says: “Ireland South East is crowned the winner among small regions, with the Ireland South East Development Office (Isedo) established in 2018 to promote investment into the region’s five counties.

“Combined, Carlow, Kilkenny, Tipperary, Waterford and Wexford have a budget of €17m and employ 55 staff. Isedo is well positioned for open channels of engagement and communication around investment opportunities.

“A new engineering cluster of 200 companies was launched in June 2019 and a financial services cluster was scheduled for launch in October 2019.

“Plans are under way for additional clusters in sectors such as life sciences and the creative industries and Isedo offers grant aid, property incentives, a mentoring programme, consultancy services and access to education and training partners through the South East Regional Skills Forum,” the report concludes.

 

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