One of the world's leading medical technology companies, Medtronic, will create 400 jobs at its plant in Galway.
The jobs will be in research and manufacturing.
This will bring to 1,700 the number of people employed by the company at the Galway plant, giving an added boost to the medical device industry, which already has a strong presence in the city.
The Tánaiste, Ms Harney, said yesterday the project would be a significant development for the company and the city.
"IDA Ireland regards this investment as one of the most important medical device investments in Ireland, and the company's decision adds to the status of Galway's existing operations while also increasing its value and role in global business," she said.
Medtronic is a world leader in the manufacture of coronary stents and angioplasty balloons for use in cardiac surgery, and is one of the leading employers in Galway city.
Recruitment for some of the posts has already commenced, and construction and fitting out of new buildings to house the expansion at the Parkmore Business Park West, on the outskirts of the city, is well under way.
About 70 per cent of the employment opportunities will be for people with Leaving Certificate qualifications, with the remainder for graduates with diploma, degree and post-graduate qualifications.
The investment relates to a new facility, which will be situated alongside the company's existing vascular division at Parkmore.
"This further investment is welcomed by Medtronic employees in Galway, and reflects very well on the skills and commitment of the Galway workforce," according to Mr Peter Walsh, vice-president and general manager of Medtronic Galway. Just 3½ years ago, Medtronic merged with Arterial Vascular Engineering, which at the time employed more than 900 people at the Galway plant.
The merger deal was estimated to be worth more than $3.7 billion (€3.66 billion) in December 1998.
Medtronic, whose headquarters who are headquartered in Minneapolis, are the world leaders in production of interventional medical devices, and pioneer research and production of equipment for treatment of conditions such as heart and artery disease.
The IDA Regional Manager, Frank Conlon, said the medical device industry already had a solid presence in Galway thanks to companies such as Boston Scientific, Tyco Healthcare, and Merit Medical. "This new investment is a tremendous boost to the entire region," said Mr Conlon.
