A multi-million euro investment by a leading medical devices company will create 460 skilled jobs in Co Tipperary.
The Minister for Enterprise, Trade and Employment, Micheál Martin, said the decision by Johnson & Johnson subsidiary Cordis Corporation to establish a state-of-the-art plant in Cashel to develop and manufacture products for the treatment of coronary artery disease was a boost to the entire region.
Cordis Corporation develops and manufactures interventional vascular technology with its drug-eluting stents being used by some two million patients since its introduction in April 2002.
The drug-eluting stents combine a coronary stent plant platform with a unique drug delivery system that works to keep arteries open after a cardiac procedure while releasing small amounts of medication to prevent scar tissue from forming inside the vessel.
The stents offer an effective, safe treatment alternative to open-heart surgery for millions of people every year.
Mr Martin paid tribute to IDA Ireland for securing the major investment in the face of intense competition from several other countries and said it made Ireland a front-runner in the global race for winning the most advanced life sciences business.
"This is an exceptionally good news day for Co Tipperary. The decision for Cordis to locate its innovative knowledge-driven facility in Cashel is highly significant. The investment involves cutting-edge development and high-end manufacturing, described by Cordis as 'a next generation facility'," said Mr Martin.
"It will have substantial employment and economic benefits for the people of Cashel and the whole surrounding region, particularly for towns such as Thurles, Tipperary, Cahir and Clonmel."
Mr Martin pointed out that Johnson & Johnson already has a presence in Cashel through its drug delivery systems manufacturer, Alza, which employs 150 people.
The investment by Cordis Corporation in a new 180,000 sq feet facility adjacent to the Alza plant will require people with medical devices, engineering, technical and laboratory qualifications and skills and development personnel up to PhD level, said Mr Martin.
Cordis Corporation vice-president of worldwide operations Victor Chance said the Cashel site had been chosen by the company ahead of 21 other locations in 15 countries.
The facility, which is expected to open in early 2008, will include a development laboratory and a finished goods testing centre which will account for around 60 of the 460 staff which the company plans to recruit, said Mr Chance.
He confirmed that the Cashel facility would be manufacturing products for distribution worldwide, while he also confirmed that the development laboratory would be the first phase of the investment to come on stream.
"We want to develop the process that will manufacture the product on site where we're going to manufacture so that's what the development laboratory will be focused on - it will be doing advanced product development," said Mr Chance.
The major jobs announcement was warmly welcomed by the mayor of Cashel, Pat Downey, and Tipperary South Independent TD Seamus Healy, who said that it would raise the profile of Tipperary as a suitable location for investment by health products companies.
