Cork received a third jobs boost in two days with the decision by financial services group Citco to create more than 250 new jobs in two projects in the Blackrock area of the city.
The investment will bring to 850 the number employed by the group in its Irish operations.
News of the expansion came on the same day that the EU competition body sanctioned a €48 million grant for US drug group Centocor, a development that ensures the creation of 750 jobs at Ringaskiddy.
It came a day after another US group, Amgen, declared its intention to create 1,100 jobs in Carrigtwohill, Co Cork.
The new Citco projects, which will receive assistance from IDA Ireland, involve the opening of a second hedge fund administration centre in Cork and the expansion of its existing data processing operation.
In Ireland since 1999, Citco already employs 600 people at operations in the International Financial Services Centre in Dublin and at Cork Airport business park.
The group's operations in 11 locations worldwide administer $300 billion (€244.7 billion) in net assets and more than $150 billion in assets under custody.
Its two latest projects will be based in a new office at Tellengana House, Blackrock.
"The decision to locate in Ireland has been fully vindicated and this expansion into a new location for our fund administration business reflects on our continued commitment to Ireland as a strategic location for our business," said the managing director of Citco Fund Services in Dublin, Kieran Conroy.
"We expect to offer challenging and rewarding financial services opportunities to top quality graduates from third-level colleges in close proximity to Cork, in addition to candidates with industry experience."
Minister for Enterprise, Trade and Employment Micheál Martin said the latest investment will considerably increase the profile of the south-west region as a location for financial services groups.
"Added to yesterday's announcement by Amgen, this means that over the next few years, 1,350 high quality new jobs will come on stream in the Cork region."
