Ireland and the Shannon Region could again face high unemployment, slow economic growth and spiralling costs, the chief executive of Shannon Development warned today.
Mr Kevin Thompstone said what "rescued and subsequently grew the economy at those times was unity in thought and direction".
Publishing Shannon Development's end of year results in Limerick today, Mr Kevin Thompstonesaid there was a net jobs loss of 734 last year companies supported by the body in the Shannon region.However, this was offset by average sales growth of 12 per cent in the 723 companies supported by Shannon Development and overall productivity increases of 24 per cent on average.
The report also described as a successes the Tourism Action Force, which was established at the end of 2001 to market the tourism industry in the area.
Shannon Development said €9.4 million had been invested in the region's infrastructure and €7.7m in the development of the Shannon Development Knowledge Network.
Mr Thompstone said the role of Shannon Development must be to continue to develop the global competitiveness of the region.
"It is vital that we show the world that the Celtic Tiger can maintain a coherent fit between our future vision and current action, in difficult times as much as in the boom times," he concluded.
