German life sciences company, Merck, headquartered in Germany, will invest approximately €440 million to increase manufacturing capacity in Carrigtwohill and build a new manufacturing facility at Blarney Business Park, both in County Cork, Ireland.
The investment, which is the largest in a single site ever for the Life Science business, will create another 370 permanent jobs by the end of 2027.
An Taoiseach Micheál Martin said: "I welcome today's very significant announcement from Merck, which underlines the company's commitment to doing business in Ireland. This investment, the largest in the history of Merck Life Science, speaks volumes about our capacity to provide the right conditions for multinational organisations to grow their operations".
Speaking from Davos today, IDA Ireland CEO Martin Shanahan said:
"This significant investment announced today by Merck – the largest the global Life Sciences and Technology business has ever made in a single site, is very welcome. This announcement demonstrates the continued growth and success of Ireland's Life Sciences sector and indeed IDA Ireland's continued commitment to winning jobs and investment for regional locations. These developments in Carrigtwohill and Blarney will have a significant positive economic impact on the South West region, during the initial construction period and also with the number of full-time roles that will be created as a result of the expansion. Merck's decision to increase its footprint is tangible evidence of the company's confidence in Ireland's ability to provide access to world-class talent. I want to assure the team at Merck of IDA Ireland's continued support and wish them every success with this major investment."