The £100 million Parkwest Business Park in southwest Dublin, which was officially opened last Thursday by the Taoiseach, Mr Ahern, will include two million sq ft of offices and have the potential to employ 25,000 people.
In addition, the 225-acre park near the M50/Naas Road interchange has a further two million sq ft of industrial space with storage and distribution facilities. It is a high-tech industrial park with the latest fibre-optic and telecommunications facilities aimed at multinationals in the IT and healthcare industries. Companies already operating there include Sitel TMS, Ocean and TIR Securities.
With its own train station, bus services and car-parking, an important feature of Parkwest is its accessibility - especially given its proximity to the M50 and Naas Road.
Pat Doherty, chairman of Harcourt Developments, which is developing the park, told a large number of guests that companies relocating to Parkwest would be able to avail of attractive tax incentives. Under the enterprise zone scheme, owner-occupiers can claim a tax allowance of 100 per cent on the construction costs, 50 per cent in the first year.
Tenants can claim double rent allowances over a 10-year period. Private investors can also avail of the 100 per cent tax allowances on qualifying construction costs, with 25 per cent available in the first year. Relief from local authority rates is available on a sliding scale over a 10-year period, tapering from 100 per cent in year one to 10 per cent in the 10th year. Parkwest plans to provide a 40,000 sq ft leisure centre with a swimming-pool, gym, tennis and squash courts, restaurants, shops and a bar. Part of the Grand Canal, which borders Parkwest, will be improved to provide fishing stands, moorings and walks, as well as boating facilities.
Mr Ahern described Parkwest's "state-of-the-art" facilities as "an important step in the creation of an IT environment to support jobs in the sector".
Parkwest, says Pat Doherty, is unlike any other commercial development "in terms of size and facilities. We have over two million sq ft of high-tech space, with each office ranging in size from 5,000 to 100,000 sq ft. It is the most innovative business park in Ireland."
