Nasdaq-listed semiconductor maker Analog Devices Inc has announced it will invest €100m over the next three years to expand facilities at its site at Raheen Business Park in Limerick.
The company will custom build a 100,000 sq ft facility for innovation and collaboration called ADI Catalyst, and the expansion will see the creation of 250 new jobs in Ireland by 2025.
Analog Devices described ADI Catalyst as a "state-of-the-art collaboration accelerator" where customers, business partners and suppliers will be able to engage with ADI to develop products and services.
The new jobs based at ADI Catalyst will primarily be focused in software development and AI innovation in areas such as Industry 4.0, sustainable energy, automotive electrification and next generation connectivity. The project is being supported by the government through IDA Ireland.
Commenting on the launch, Vincent Roche, president and CEO of Analog Devices, said, “ADI Catalyst is our latest investment in the future of innovation, not just in Ireland or Europe, but globally.
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"It provides the ideal environment for experts in their fields to connect, collaborate, test, and pilot new technologies, business models, and ecosystems. Opening ADI Catalyst enables us to share ideas, capabilities, and resources with teams in Europe, and around the world, for the greater good.”
Taoiseach Micheál Martin said the announcement was a "significant milestone" for ADI in Ireland, adding that continued investment in the digital economy had "never been more important.
"ADI Catalyst further reinforces Limerick and Ireland’s position as both a manufacturing hub for semiconductors and a centre of excellence for innovation in Europe," he said.
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar congratulated Analog Devices on the announcement and thanked the company for its continued commitment to Ireland.
IDA Ireland chief executive Martin Shanahan said ADI first established a presence in Ireland in 1976 and now employs more than 1,300 people here -- more than half its European workforce of 2,200 people across 14 sites.
"This latest investment in ADI Catalyst, is not only testament to the company’s continued focus on driving innovation, but also its longstanding commitment to Ireland and Europe more broadly," he continued.
"In choosing to expand operations here in Limerick, ADI has located in a region with a buoyant business ecosystem, a strong track record of established global businesses and talented and highly skilled workforce. I wish to assure ADI of IDA Ireland’s continued support."
Photo: Analog Devices CEO Vincent Roche. (Pic: IDA Ireland/Twitter)
