Cork and Galway both received jobs boosts yesterday when multinational IBM announced that it is to invest €24 million in technology laboratories that will create 130 jobs over the next three years.
The bulk of the jobs will be located at IBM's facility at the Cork Airport Business Park.
Minister for Enterprise, Trade and Employment, Micheál Martin, said that the investment was highly significant as the jobs would be created at the high-value end of the employment spectrum.
"This is wonderful news coming from the largest information technology company in the world. This knowledge-driven investment is highly significant for Ireland and in particular for Cork and Galway," Mr Martin said.
"The benefits are tremendous in terms of the highly sophisticated software technology that will be developed in both locations, the highly skilled positions that will be created and the endorsement by IBM that Ireland is providing the requirements for its future in research and development," he added.
The investment, which is supported by IDA Ireland, follows the acquisition by IBM last month of operational support and network management software provider, Vallent Corporation, which already had a presence in Ireland with some 120 employees.
IBM Ireland's general manager Michael Daly said that the investment by the company in these new laboratories, as part of its Tivoli software division, highlights Ireland's role as an important location to help the company fulfil its global research and development strategy.
"As a globally integrated company, we are committed to drawing on locally established skills and talen to create value for clients worldwide," said Mr Daly.
He pointed out that IBM was one of the first multinational companies to invest in Ireland and has had a presence here since 1956.
Yesterday's jobs announcement is particularly welcome in Cork. It followed a turbulent period on the employment front in Cork which has seen some companies expand but also a number of businesses close with substantial job losses.
Last month, Mr Martin announced an expansion by US owned software company, VMware which will create 369 jobs in Cork over the next three to five years.
However, earlier this month, Motorola announced it is to close its Cork plant, with the loss of 330 jobs.
