There was dismay in Cork last night at the prospect of Seagate not going ahead with its proposal to provide more than 1,000 jobs in the city. The much-heralded arrival of the disk manufacturer had given great grounds for optimism that the city's fortunes were on the upturn and that high-paid jobs would be created, with the promise of more in the longer term.
However, the announcement of the IDA's coup last October was quickly tempered by news that because of the disadvantageous cyclical nature of the business, Seagate had decided to put its proposed £148 million investment in Cork on hold.
But it was widely believed in Cork that the deferred project would go ahead early in the new year and that the city was the preferred location of Seagate.
Last night in Clonmel, Mr Barry Condron, one of the IDA negotiators who succeeded in bringing Seagate to Cork in the first place, admitted that he was extremely disappointed. Mr Condron, who was leaving the IDA to pursue a career in private industry, said that the promise by Seagate to provide more than 1,000 jobs for Cork had been a very exciting prospect.
He said that despite the bad news for Clonmel announced last evening, the IDA would have to review its support for the Seagate project in Cork, even if the company decided to go ahead with its project.
Mr Conor Doyle, president of the Cork Chamber of Commerce, said he had heard the news of Seagate's departure from Clonmel with great disappointment. He added that the chamber was still hopeful that Seagate would eventually locate at its proposed plant in Ringaskiddy, but he said the business community in Cork was aware that the market in which the company was involved was still a very volatile one. "I'd like to think that we are still optimistic. Time will tell", he added.