US medical device company Dexcom has announced plans to invest €300 million over the next five years to build a new manufacturing site in Athenry, Co Galway, which it says will create “up to 1,000 high-skilled” jobs in the region.
On Friday the California-headquartered company, which makes continuous glucose monitoring systems for people with diabetes, confirmed that it would seek planning permission for its first European facility at an IDA Ireland-owned land bank in Athenry.
In a statement the inward investment agency said that the facility would have the capacity to produce “millions” of Dexcom’s sensor devices each year.
It said that Dexcom expects to create around 500 construction jobs in the region and up to 1,000 high-tech graduate and technician level jobs once the site is fully operational.
Barry Regan, Dexcom executive VP of global operations said:
Ireland has an exceptional talent pool and an established medtech sector, making Athenry the perfect location for us to establish a new, state-of-the-art manufacturing facility.
It marks the second big announcement by a global player in this specific medical device area in the past year.
The expansion will make the State a leader in the production of high-tech diabetes glucose monitoring devices.
Michael Lohan, chief executive of IDA Ireland, who was appointed to lead the agency last month, said Dexcom’s decision to choose Athenry was an “important strategic investment” for the company from which the region would “greatly benefit”.
Galway’s track record in attracting medtech investments from big innovators speaks for itself.
Welcoming the news, Minister Rabbitte said:
This is simply tremendous news for Athenry and will be transformative for the town.
This site has been idle for a number of years so it’s great to finally see an investment of this scale in the town and one which will create so much employment at the facility but also services that may spring up off the back of it.
Galway is well known for its medical technology sector, particularly in the City so it’s wonderful to see this spreading around the county.
Athenry is a town with so much to offer and has an ideal location just off the motorway so is very accessible.
And she continued:
This will bring so many skilled jobs to the town and may well attract other such companies to the area.
It really is turning point for the town, and demonstrates how this Government is trying to ensure there is investment around the country, not just focused on the major urban centres.
What is Continuous Glucose Monitoring?