Economy of Cork

tatistics

County Cork and County Kerry as part of the South-West region with a population of 620,000 has a GVA of €25bn(2005).

The South-West region has a labour force of nearly 300,000.

GVA per capita(2005) in Greater Dublin is €42,435, while GVA in the South-West is €40,835, which means that the SW region has the second highest GVA per capita on the island of Ireland.

Most of the industry in Cork is concentrated around the Greater Cork area, taking in Cork city and it's immediate environs, centred on the Cork Suburban Rail network.

The immediate Cork city area has a population of 200,000 in the city and environs, while another 200,000 live within the commuter belt giving Greater Cork a population of 400,000.Important city suburbs are Douglas(25,000), Ballincollig(20,000), Glanmire(15,000), Bishopstown(13,000) and Mahon(12,000).

Important towns within the commuter belt are: Carrigaline (13,000), Cóbh (12,887), Mallow (11,000), Midleton (10,336), Youghal (7,000), Fermoy (7,000), Caherlag (6,000), Bandon (5,000), Inishkenny (5,000), Blarney (5,000), Monkstown (5,000), Passage West (5,000), Kinsale 4,000, Macroom (3,000) and Ringaskiddy.

Here are some of the companies within this area:

Pfizer (Pharmaceutical), GlaxoSmithKline (Pharmaceutical), Johnson & Johnson (Pharmaceutical), EMC (Data Storage), Apple (European HQ), Avery Dennison (Financial Shared Services), Siemens Group (Third party multi-lingual tech support) and the Marriott Group (Shared Services and Customer Service Contact Centre), Centocor (Biopharmaceutical Manufacture), McAfee (Security Software, EU Operations Centre), VMware (Enterprise Software and International Support/Shared Services Centre Centre), CitCo (Shared Services, Data Processing and Hedge Fund Administration), and Amazon (Customer Services - On line Retail Activities).

There are two main third-level institutions, University College Cork and Cork Institute of Technology which have a combined population of 34,000

Atlantic Quarter

On 6 March 2008, developers announced a 1bn euro plan to create an Atlantic Quarter in Cork's docklands area to rival that of the International Financial Services Centre in Dublin making, it one of the biggest and most ambitious plans undertaken in the history of the state.cite news
url=http://www.independent.ie/national-news/ifsc-to-get-euro1bn-rival-in-cork-1308901.html
title=IFSC to get €1bn rival in Cork
author=Ralph Riegel
date=7 March 2008
work=The Irish Independent
accessdate=2008-03-28]

I.T & Pharmaceutical Industry

Cork city is one of Ireland's most important I.T. hubs with such multinationals as Apple, Amazon, McAfee Ireland Limited, Motorola and Siemens. The Atlantic Quarter in Cork is a new plan to create a smaller version of Dublin's IFSC in Cork docklands.

Cork has developed into the centre of Ireland's Pharmaceutical industry. The city plays an ever greater role in the bio-pharmaceutical industry and is successful in fighting off stiff competition from Switzerland and Singapore for inward investments in the bio-pharmaceutical area in companies such as Amgen and Pfizer. Most of the pharmaceutical companies are located in Little Island, Cork.

Power generation

Ireland's only oil refinery and oil storage facility is still located at Whiddy Island in County Cork.

The majority of Ireland's gas production comes from Kinsale Head in County Cork, from where it is transported by pipeline across the country.

Business parks

The IDA business parks in Cork City and surrounds include:

* Cork Business and Technology Park
* Kilbarry Business and Technology Park
* Carrigtwohill Business and Technology Park
* Ringaskiddy Business Park.

ee also

*Economy of Dublin
*Economy of Belfast
*Economy of Limerick

References

External links

* [http://www.cso.ie/releasespublications/documents/economy/current/regincome.pdf South-West GVA (2005)]