Two separate investments in Waterford City and Dungarvan will see the creation of up to 270 jobs in the county.
Genzyme, a US biotechnology company that employs over 400 people, announced today that it is planning to invest €130 million at its plant in Waterford city.
The investment, backed by the IDA, will create 170 high-skilled positions in manufacturing, quality and engineering over the next three years. The local workforce is expected to increase to over 600.
Mark Bamforth of Genzyme said the expansion of the company’s Waterford campus will see investment in expanding production capacity along and more site infrastructure.
"This major expansion of our Waterford site is a ringing endorsement of the positive experiences we have had there since the initial announcement almost seven years ago of our plans for Ireland," Mr Bamforth said.
US company Lancaster Laboratories also announced today that it plans to expand its operation in Co Waterford.
An investment at its Dungarvan plant will see the creation of 100 positions over the next five years. Most of these positions will be at PhD, Masters and graduate level.
The move comes on the back of its recent takeover of Irish company Microchem Labs, who already employ 100 people in the town. Following the acquisition of Microchem, the company will now be known as Lancaster Laboratories Europe.
Minister for Enterprise Trade and Employment Micheál Martin said the investment "consolidates the long established company in the town for the foreseeable future.
"It is a superb endorsement of the calibre and quality of the services which indigenous Irish companies now provide to international business," Mr Martin added.
