€44 MILLION INVESTMENT AND JOBS BOOST FOR TUAM
One of Tuam’s biggest employers has announced a massive €44 million investment in the town that will create another 50 new jobs.
Valeo, who are global leaders in Advanced Driver Assistance Systems (ADAS) for autonomous vehicles, employ more than 1,000 people in research and production in the town.
Now the firm is planning to increase its Research, Development and Innovation workforce from 450 to 500 people, making it one of the biggest R,D and I centres in Ireland.
Galway East TD and Minister of State for Rural and Community Development Seán Canney said: “This is tremendous news and a massive endorsement for the town. Tuam is now firmly on the map as a centre of opportunity for businesses that are at the cutting edge of technological innovation.
“In Tuam, we have a highly skilled workforce that has proved itself loyal to a range of companies over the years.
“Added to that we have developed – and will continue to develop – our infrastructure in terms of the M17 motorway, our national roads, our waste water services, our natural gas network and broadband to make towns like Tuam, Gort, Athenry and Loughrea increasingly attractive to investors.
“As a TD and Minister, I discussed this investment with the Taoiseach Leo Varadkar, the Minister for Enterprise Heather Humphreys and the IDA along with other opportunities for the region.
” Valeo’s announcement underscores the great business and employment potential for our area.
“As chairman of the Atlantic Economic Corridor Task Force, this is a perfect example of how businesses can be set up in the West and how we can support balanced development throughout the region.
“I want to thank the Government for supporting the IDA in attracting foreign direct investment here. I wish Valeo’s General Manager in Tuam, Fergus Moyles, and his team continued success in the future.”
Valeo, which is headquartered in Paris, employs more 114,000 people in 33 countries.
The R, D and I centre in Tuam consists of many highly skilled engineers and scientists across a range of disciplines, working on the latest technologies in Artificial intelligence and Deep Learning for application with autonomous vehicle systems.
Photo – Left to right, Valeo Comfort and Driving Assistance Systems Business Group President Mark Vrecko, Galway East TD and Minister of State for Rural and Community Development Seán Canney, IDA Ireland Chief Executive Officer Martin Shanahan and General Manager Valeo Tuam Fergus Moyles.
For more information, contact Minister Canney on 086-2513639