The designation of the Atlantic Technological University for Galway, Mayo, Sligo and Donegal is a positive move and will provide a positive impact to the economy in the region and the country at large.
“As a former lecturer in GMIT, I am delighted to see the coming together of the three Institutes of Technology (GMIT, Sligo IT and LyIT) in a combined force in the region.
I welcome the Economic Impact Study carried out by the Northern and Western Regional Assembly which clearly demonstrates the positive impact the designation will have on the region”.
The designation of the Atlantic Technological University (TU) is an important step in delivering the vision and objectives of the National Planning Framework and the Regional Spatial and Economic Strategy of the Northern and Western Region.
“The Economic Impact Study of the Atlantic TU demonstrates the significant economic contribution the Atlantic TU will provide to the Northern and Western Region’s economy per year; with this impact likely to rise considering the potential economic and social spill over effects expected of its designation”.
Key results of the study are as followed:
• New Atlantic TU will deliver €700 million to Ireland’s economy per year, representing an increase on previous estimates.
• Just over 3,100 jobs will be supported by the Atlantic TU per year.
• Just under 10% of third level students in Ireland will be enrolled in the Atlantic TU
• Every €1 of expenditure by the new Atlantic TU is likely to result in an overall increase of nearly €4 in output to the Irish economy
• The designation of the Atlantic TU could not come at a more important time for the Northern and Western Region, as the European Commission recently announced that the Northern and Western Region’s GDP per capita – as a % of the EU27 Average (PPS) – was 71% in 2020, which was 34 percentage points lower than its previous peak of 105% in 2006 and was down 17 percentage points on the region’s performance in 2010.
“I also want to wish all the staff and lecturers the best of luck with the new designation and I have no doubt, but it will be a game changer for our region under the stewardship of the news president Dr. Orla Flynn”.