Microchip Technology is to invest more than €16m to create a new development centre based in Cork creating 60 jobs over the next three years growing to approximately 300 within seven years.
As The Irish Examiner reports, the expansion builds on Microchip's existing presence in Ireland with operations in Dublin, Ennis and Cork.
Located close to the city centre, the new facility will incorporate an engineering lab and extend the company's regional customer support.
Headquartered in Arizona, Microchip creates smart, connected and secure embedded control systems for more than 120,000 customers across the industrial, automotive, consumer, aerospace and defence, communications and computing markets.
The company said close partnerships with Irish universities will enable them to offer internships and collaborate on key next-generation initiatives.
The creation of jobs will include engineers for integrated circuit design and testing, hardware and software system design, applications development plus field and customer support
Growing pool of talent
Ganesh Moorthy, President and chief executive-elect of Microchip said the new Microchip development centre in Cork will establish a significant R&D presence in Ireland.
“Cork was chosen for the development centre as it is the second-largest city in Ireland, with a growing pool of talented engineers and the Centre will add to Microchip’s ability to deliver superior products and be able to provide timely response to our customers. Availability of analogue and mixed-signal talent is another key factor in selecting Cork.”
Taoiseach Micheál Martin said the announcement is testament to the depth of engineering and research talent in the country. "The partnerships established with leading Irish universities will also ensure strong opportunities for graduates in the growing digital economy. I wish them every success.”
Minister for Enterprise Trade & Employment Leo Varadkar TD said there is a deep pool of talent in Cork and the South West enabling companies like Microchip to grow and embed their operations in Ireland.
IDA Ireland CEO Martin Shanahan said: “Today’s announcement by Microchip is very welcome. The company’s investment in a new development centre aligns with IDA’s Strategy to attract engineering development activity to Ireland and to secure investments for regional locations. I wish Microchip every success with this initiative.”