Councillors are aiming to gain Government approval for the designation of University of Limerick (UL) campus and the hinterland of the campus as the South Clare Economic Strategic Development Zone (SDZ).
The local authority said the SDZ will be Europe's first 21st Century University Town providing for a full range of living, working, amenity, social, cultural and recreational spaces integrated with a range of University facilities, including teaching, learning and research.
In addition, the site will include the redevelopment and integration of the Errinagh canal, providing the final inland waterway link between Lough Erne in County Fermanagh and Limerick City as well as the Shannon Estuary.
Overall, the SDZ has the capacity to generate 3,500 jobs.
Mayor of Clare, Cllr Tom McNamara, said: "I welcome the fact that Clare County Council is working in close collaboration with the University of Limerick and other agencies in the delivery of an Economic Strategic Development Zone for South Clare."
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Pat Dowling, the council's Chief Executive, said: "The establishment of a SDZ at this strategic location will be a catalyst for the further economic and social development of Ireland in line with national and regional policy, including the 'National Planning Framework – Ireland 2040' and 'Limerick 2030 - An Economic and Spatial Plan for Limerick'.
"SDZ will establish a zone of substantial scale and strategic importance, advancing the region by creating a prime global site for investment with consequent high level employment opportunities for 3,500 people. The figure will be achieved by a mix of foreign direct investment (FDI) and enterprise of indigenous origin.
"The SDZ acting as a homeland for significant investors and leaders of enterprise will become a fertile field of opportunity for entrepreneurs fresh from UL's NEXUS incubation hub to gain partners, raise capital and accelerate their innovative ambitions.
"The early deployment of these enterprise partnerships will greatly enhance the long-term prospects of young entrepreneurs in this 'Shannon Valley' site as is evidenced in current Silicon Valley models."
University of Limerick President, Dr Des Fitzgerald, added: "University of Limerick is delighted to support Clare County Council's application to Government for the establishment of this Strategic Development Zone (SDZ) adjacent to the north campus of the university.
"UL works closely with both Clare County Council and Limerick City and County Council to fulfil its strategic development responsibilities in the Mid West. This designation would position UL as the first university to participate in an economic SDZ, complementing our longstanding commitment to the economic development of our region."
Clare County Council will now submit a formal application to Government for the designation of the South Clare Economic Strategic Development Zone (SDZ) in the coming weeks. If successful, a detailed 'masterplan' for the area will be developed by the Local Authority, in conjunction with UL, local landowners and other stakeholders.
(LM/MH)
