New jobs, closures, and street redesigns – a look back at a bumpy year for business in Limerick

THE past twelve months has been a busy year in business across Limerick as the pandemic is monitored via the rear-view mirror.

JANUARY

2022 began with the local and national economy still under the shadow of Covid-19. People were unable to ring in the New Year like they may have often done in pubs, with government ordering that bars should close at 8pm. This measure lasted deep into January and combined with staff shortages as a result of the pandemic, saw many bar owners deciding to close altogether until restrictions eased.

The Rusal Alumina bauxite refinery at Aughinish in West Limerick made the news both locally and nationally as the year progressed. This is due to its Russian ownership - with key shareholder Oleg Deripaska being an ally of Vladimir Putin, whose war in Ukraine has drawn international condemnation and led to sanctions against his nation. Despite ongoing fears, these sanctions have not hit Rusal's Limerick business, which is the largest of its kind in Europe. In filings back in January, the firm said that it employed 482 people in Limerick, pointing to its importance to the local economy. This came as Aughinish Alumina sought permission from An Bord Pleanala to expand capacity for its by-products.

FEBRUARY

IDA Ireland announced its first investment for Limerick this month. And it was a big one. Biopharmaceutical company Eli Lilly announced it is to open a new manufacturing plant in the Raheen business park, in a move which will bring 300 permanent jobs and 500 construction roles. In November, the firm cleared all its planning hurdles, with construction (image below) set to get under way in the coming weeks.

February saw the announcement from the then Enterprise Minister and Tanaiste Leo Varadkar of the setting up of a new taskforce designed to get the economy along the Shannon Estuary moving. Chaired by former Johnson and Johnson boss Barry O'Sullivan and including some of the region's top names, the group provided its interim report just before Christmas. Among its recommendations are the delivery of a major international event to the area, along the same size and scale of the 2027 Ryder Cup, the development of the LNG terminal in Ballylongford. They also believe amid a cost-of-living crisis caused by skyrocketing power prices, the Shannon Estuary can now become “a clean energy powerhouse for Europe,” with the area supporting 5,000 jobs by 2050.

University of Limerick (UL) unveiled plans to create a Strategic Economic Zone on its land in south-east Clare. The college believes the designation of these lands, on its north campus could deliver up to 3,500 jobs. It's vision will see indigenous and foreign enterprises partner with UL to deliver research, upskilling and immersive education-led jobs. As part of the plan, it's envisaged students could spend their internship year in these firms, thereby remaining on campus. There was opposition to this plan by people in the city centre, where UL had recently opened a small-scale campus. And Transport Minister Eamon Ryan's decision later in the year to shelve the second phase of the Northern Distributor Road has thrown the major project into doubt. The relief road is seen as vital for Plassey and its surrounds to take traffic off the already congested links around the college. In April, UL president Kerstin Mey said its plans for the new zone would not impact on its project in the city centre.

MARCH

Donal Cantillon, a director of corporate finance firm Focus, succeeded hotelier Donnacha Hurley as president of Limerick Chamber

There was sad news in Newcastle West as Myson Controls was put up for sale. The premises in the town closed in June with the loss of 52 jobs.

Cean Sports, an American firm which supplies gear to the Nato military alliance, announced plans to set up an operation in Limerick

A massive €28m investment plan for Foynes Port was unveiled this month. Described as a "game-changer" for the area, the plan is designed to deliver an additional 117m of set-down and storage areas by linking the east and west jetties. Foynes Port Company profits released in July revealed the firm had exceeded €5m for the first time.

APRIL

A new commercial vacancy study published this month revealed Abbeyfeale had the highest number of retail units empty. Some 23.6% of premises in the border town were not trading, according to the survey by GeoDirectory.

Danish furniture retailer Jysk opened a second city branch at the Ennis Road Retail Park

Another blue-chip multi-national announced plans to set up shop in Limerick, with Bosch, Europe's biggest car parts manufacturer creating 30 jobs at Plassey's National Technology Park

Sports store Decathlon outlined plans to open a new store at Dublin Road creating 60 new jobs. It was not all good news though, with the firm set to replace DIY chain Homebase in the same unit after its lease ran out, leading to that store's closure.

Well-known sports chain to open branch in Limerick

The big Easter getaway saw Ireland experience what was to become a regular occurrence this year - queues at Dublin Airport due to post Covid-19 staff shortages at the hub. The local business lobby has continued to urge airlines to divert some services to Shannon Airport - which is under capacity - as a solution.

Medical firm Vitalograph announced plans to invest €10m in a move which will see 100 new jobs for Limerick. It's opening offices at the Engine Innovate building at Cecil Street.

MAY

Health services provider Legato gave Limerick another jobs boost with 80 new jobs coming on stream. The firm announced it would create the research and development positions at its hub in National Technology Park in a move which brought its headcount to 200.

A new coffee roastery opened at Dock Road. Guji coffee came as part of a €2m investment and saw 20 new jobs created.

Green energy company Kilteely Dromkeen Innovation, or KDI, was named Limerick's enterprise of the year at the annual Limerick Enterprise Office final.

The full return of an in-person Riverfest and Great Limerick Run weekend after a Covid-19 enforced absence at the top of the month saw hospitality businesses across the city get an economic shot in the arm.

Tensions began to show among city traders at the pace of the revamp of O'Connell Street in the city centre. This month, Limerick Chamber sought an urgent meeting with the council and the contractors delivering the €9.1m plan. The date for completion of the project has been pushed out twice - from September to November. Work paused for Christmas to give retailers a break during their busiest trading month. But it's set to resume in the coming week, and is expected to be completed in the spring.

Ryanair announced a €10m investment at Shannon Airport in opening a new aircraft maintenance facility at Shannon Airport, with the move bringing 200 jobs to the base.

It was the end of an era in Charleville as Jimmy and John Noonan closed their iconic toy shop after more than 100 years of service between them.

JUNE

Cruises Street in the city centre, which has been making headlines for all the wrong reasons due to shop closures in recent years, finally saw some investment. Intersport Elvery's opened a branch at the corner of the street, in a unit which until a few years ago, was occupied by an outdoor gear business.

There was a significant reduction in the number of blackspots in Limerick city, according to a survey of Irish Business Against Litter, released this month. In fact, only one such area was identified.

Cargolux, Europe's largest cargo airline confirmed Shannon Airport as the latest addition to its network.

JULY

July was a golden month in Limerick, with tourists and golf stars from across the world descending on Adare Manor, where the first JP McManus Pro-Am since 2010 took place. Local hospitality businesses enjoyed a huge - and much needed - boost as a result of the tournament. Later on this month, publicans got another shot in the arm as Limerick's hurlers won their third All-Ireland title in a row, defeating Kilkenny. The landmark victory sparked several days - and even weeks - of celebration on Shannonside!

Publicans across Limerick were clearly feeling generous as the local Vintners Federation branch presented a cheque for €10,000 to a hub on Limerick's northside which is housing Ukrainian refugees.

WP Engine moved into new offices in Henry Street in the city centre this month, increasing its headcount to 120 people in the process. The firm is responsible for major brands and small businesses build we sites. Founded in Austin, Texas, it opened in Limerick in 2016.

Siemens Digital Industries Software announced plans to establish a research and development centre in Shannon, in a move which will see 25 new roles.

One of Limerick's most famous family businesses, O'Mahony's bookstore at O'Connell Street in the city centre marked 120 years in business.

Limerick book shop stands the test of time and is ready for the next chapter

AUGUST

Software firm MacMarts outlined plans to create 40 new jobs in Plassey

A new study this month revealed 19 pubs across Limerick closed during the Covid-19 pandemic which lasted for almost two years. But there was good news for nightclubbers this month after it was revealed Icon in Denmark Street would re-open in September after a 28-month closure. Another nightclub, Costello's also announced it would seek a fresh licence, but as of now, this legendary spot remains shuttered.

A new private healthcare facility, the Beacon Hospital, opened in Barrington Street in the city centre.

SEPTEMBER

Small traders this month warned that rising gas and electricity costs could force them to close their doors forever as many revealed eye-watering price rises.

The Limerick Leader/Limerick Live exclusively revealed this month that a multi-million euro development had kicked off at the former Clarion Suites site in North Circular Road. A large-scale development on five-acres will see the existing apart-hotel building converted to provide 61 apartments, with a completion date expected this September.

Johnson and Johnson Vision Care announced the creation of 80 new jobs as part of a €100m investment at its facility in Plassey.

There were celebrations in Limerick's county town of Newcastle West as manufacturing firm Ortec (pictured below) opened its new factory following several years of buildup. It's the firm's first plant outside North America, and will see 100 staff employed there once up and running.

Elsewhere on the jobs front, MeiraGTx, a gene therapy company opened its new manufacturing facility in Shannon. The move brought about 100 new roles, with hopes that 200 more will follow.

OCTOBER

Brown Thomas Limerick boss Liam Dwan sent out a stark warning to the city centre, suggesting it has "a way to go" in terms of attracting high-profile new retailers.

The rise of staff working from home, made common during Covid-19 has caused alarm bells to chime for those involved with the Opera Centre project. Although Limerick's biggest public building project continues, in October, it emerged that the Revenue Commissioners, which is to be the anchor tenant in the €200m project, only requires half the office space.

NOVEMBER

There was a welcome return this month for the Limerick Chamber regional business awards which took place as an evening black-tie event for the first time since 2019. More than 450 business leaders attended the ceremony in the Strand Hotel, where a number of local companies were honoured. The top prize of company of the year went to Raheen firm Stryker (pictured below). And JP McManus was given a lifetime achievement award by the Chamber president Donal Cantillon.

DECEMBER

Commercial rates in Limerick are to increase this coming year after elected members of the local authority agreed its budget for 2023. The rate is an annual charge levied on business people based on the total floor space of property in which they operate within. It's up by 4.5% for the largest firms, but for smaller company owners, there will be a chance to swerve the rise. That's because councillors agreed a scheme for small companies providing a refund up to 13.5% of their rate demand capped at €1,500.

Crossagalla construction company Roadbridge was placed in liquidation by the High Court, having run into trouble earlier this year. The well-known firm employed 150 people locally.

Three landmark units on Limerick's main thoroughfare are set for a revamp in 2023. The owners of the former Bank of Ireland at 94 O'Connell Street are seeking permission for a commercial/residential development, which will bring between 24 and 26 living spaces. Elsewhere, the new owner of the former Debenhams building - out of use since the department store closed in 2020 - indicated he was seeking to build an apart-hotel and student accommodation on site. And a further commercial/residential development is planned at the site of the former city library in Upper O'Connell Street.

The former chief executive of Adare Manor, Colm Hannon, who worked with JP McManus for decades sadly passed away. He was seen as instrumental in bringing the 2027 Ryder Cup to the resort, and tributes poured in for Mr Hannon from across the globe.