A US contract manufacturing and engineering design company is to set up a manufacturing operation in Dublin which will create 262 jobs within three years, the Tnaiste, Ms Harney, announced yesterday.
Benchmark Electronics Inc, a Texas-based contract manufacturer and engineering design operation, has agreed a £7.6 million proposal with IDA Ireland for the establishment of the plant in the IDA's Blanchardstown Business Park.
Three-quarters of the new jobs to be created by Benchmark will be for experienced manufacturing operatives and people with Leaving Certificate-level qualifications, who will be trained by the company. Recruitment is now under way and training will commence in September.
Benchmark is one of the top 10 contract manufacturers in the US, specialising in high quality, technologically complex printed circuit board assemblies and providing engineering design services to original equipment manufacturers. The industries it focuses on include medical devices, telecommunications, industrial and business computers, test instrumentation and industrial control. It is to follow a strategy of seeking highly complex, low to medium volume assembly business.
The company is to carry out major modifications and install equipment in a 43,000 square foot building in Blanchardstown Business Park. This is Benchmark's first European manufacturing operation and is part of the company's strategy to build on its existing European customer base, which is currently being supplied from the US.
"Benchmark's move to Ireland will further strengthen our electronics infrastructures and benefit their existing customers here," Ms Harney said.
Benchmark is listed on the New York stock exchange. It employs 2,500 people in four facilities in North America.
The announcement brings to about 60 the number of IDA Ireland projects approved this year. Under an agreement reached with the European Commission last week, a cap of 77 IDA Ireland projects per year has now been set. The IDA believes that by the last quarter, the quota is likely to be full or very close to being so.
The cap was agreed last week during negotiations on Ireland reducing its corporation tax rate to 12.5 per cent by 2003. New companies agreeing projects with IDA Ireland may avail of the special 10 per cent rate up to 2003. Companies with projects in the pipeline may avail of the special rate up to 2010.
