The Tánaiste has confirmed that a subsidiary of US healthcare company Johnson & Johnson will create 330 jobs in Cork in a €700 million investment.
Centocor, a specialist provider of treatments for infectious diseases and muscular ailments,unveiled plans to build a manufacturing centre of excellence at the 100-acre IDA site at Barnahely, Ringaskiddy, Co Cork.
Making the announcement in Cork today, Ms Harney said the investment has "major implications for Ireland and, particularly, its value to Ireland's reputation as an attractive, inward investment location cannot be overstated.
"This is a major achievement for IDA Ireland and can only be described as a major coup for the country," she said.
It is expected that 60 per cent of employees in the new facility will have a science or science-related degrees, and an additional 10 per cent will hold masters or PhD qualifications.
Mr Robert J. Sheroff, president at Centocor, said the decision to locate in Cork was based on the company's long-term experience in Ireland as well as its proximity to Centocor's largest manufacturing facility in Leiden, The Netherlands.
Centocor develops treatments for a wide range of diseases including cancer, infectious diseases and inflammatory disorders such as arthritis.
Johnson & Johnson already has four IDA-supported companies in Ireland employing more than 1,300 people.