October 19, 2021
Business News

War of words over plans to bring 1,500 jobs to Waterford and South East

A row has erupted over plans to bring 1,500 financial services jobs to Waterford and the South East.

Cyprus-based Woodbrook Group announced in December 2018 that it would invest €100m to establish a health insurer Waterford that would create the 1,500 jobs over four years.

At a recent plenary meeting of Waterford City and County Council, chief executive Michael Walsh said he did not believe the jobs would materialise and that nobody had spoken to him directly about the development.

However, in a report in today’s Irish Times, Woodbrook boss Michael Doherty (pictured above) insisted he is “committed” to the development, and that he is currently in talks with the IDA in relation to the project. He also said there was no need to contact the council in relation to the development at this point.

“Since I’m a Waterford man I’m committed to the project. We’re still fully committed,” Mr Doherty, who is from Cheekpoint, is quoted as saying.

Woodbrook, which specialises in financial and insurance services, has bases in nine countries with plans to open a small IT office in Waterford early next year.

Mr Doherty cited ongoing issues in Waterford and the South East, including the shortage of housing and delays in the North Quays project and the delivery of a university for the region.


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