The chief executive of the major pharmaceutical company which announced this week that it is setting up a new plant in Tralee instead of Derry has said further phases of the development could be based here.
Rory Doyle was speaking after Global Pharmaceutical Centre of Excellence announced that it will create almost 300 jobs in Tralee as part of a development which could lead to 5,000 jobs. The company had been considering bringing the jobs to Derry but chose Kerry because of the high rate of corporation tax in the North.
Mr Doyle explained that the difference in corporation tax was key in the decision making process.
“It was something we knew about prior to the engagement with the city but because the people of Derry and the representatives and business leaders had been so positive we pursued it as far as we could but the corporation tax was too big a gap to bridge,” he said.
He also said Derry is an attractive place for investors.
“It is one of the most vibrant cities in Ireland with an awful lot to offer. The place is very attractive.
“Everybody we met across Derry and Invest NI were very supportive and professional in all their dealings with us and that is why we feel there is some room to work with in the future. The major catalysts for the project were Martina Anderson and William Hay and they opened doors to meetings with the First Minister Peter Robinson and Deputy First Minister Martin McGuinness. Unfortunately it was simple economics,” he said.
Mr Doyle also said Derry could benefit for further phases of the development. “Because of the engagement with Invest NI and local leaders working together we are looking forward to working with the area gain in the future. There is great synergy between Derry and Kerry for the future,” he said.