I am delighted to be here in Cork today. It is always a pleasure to be here, even more so when it is to welcome new business to this already thriving city. When I was reading through my notes for today, I was reminded of the old saying ‘from little acorns mighty oaks grow’. It struck me how this rang true for International Airline Handling Ltd. From humble beginnings in 1997 with an administrative and warehousing facility based at the Airport Business Park near Dublin Airport to a second operation at Shannon Airport. And now, a modern logistics centre here at Cork airport!
I know that in the past eight years you have been in business, it is your ethos of personal attention, reputation for high standards and on time delivery that has made you a highly respected player in the air freight industry. Furthermore, you have combined this with modern technology such as scanning equipment and track-and-track systems. It is no wonder that there are 40 of the world’s best-known airlines among your customer base.
Growth is the key to Ireland’s continued success on a number of levels. We must continue to move forward regionally, nationally and globally.
And Cork is certainly a great example of a region moving forward.
Cork has positioned itself as a centre of excellence in education and training. It is the home of one of Ireland’s top universities, a leading Institute of Technology and other third level colleges. I know that my colleague, the Minister for Finance, Brian Cowen, T.D., recently launched Phase II of the Airport Business Park. The development has planning permission for 330,000 square feet of offices and when completed will create employment for some 3,300 people. This initiative is just one of a number of major developments which are taking place in Cork City and County.
Cork Airport is also expanding, with a new state of the art terminal scheduled for completion early next year. This will create facilities to cater for up to 5 million passengers annually.
With the ready supply of skilled people, easy access through port and airport and excellent infrastructure, Cork really is a desirable location for business.
On a national level, our population has risen dramatically and continues to grow at a phenomenal rate. Recent population projections show that Ireland’s population could exceed five million by 2021. Our labour force has increased to over two million. GNP grew by 4 per cent last year and the forecast for 2005 is a growth of 5 per cent.
Our inflation rate for 2004 was 2.2 per cent and on a harmonised basis, Ireland’s inflation is now running very close to the euro area average.
While the outlook for the Irish economy is one of growth, we have to bear in mind that our performance is closely linked to global economic conditions. The global economy while continuing to expand is doing so at a slower pace than in 2004. Factors such as high oil prices could result in slower international growth if sustained.
I know, as does anyone in business, that competitiveness remains the key economic priority. We must maintain and enhance our competitive position if we are to continue to compete in the world market.
Competitiveness has been, and remains, a key focus of Government policy. We are determined that conditions for enterprises operating in Ireland should be as favourable as possible. The key to remaining competitive in today’s changing economic environment is to adapt constantly to new challenges. The National Competitiveness Council is examining issues affecting our competitiveness in detail and will highlight key policy directions that will help Ireland in this regard.
Many factors impact on Ireland’s success story. Today, I would like to take this opportunity to recognise the contribution that small and medium sized companies have made. The SME sector is in many ways the backbone of our economy. And it is firms such as yours that provide an efficient, secure and flexible service to their customers that will continue to make Ireland an attractive place to do business.
You have continued to build on those strengths. This new facility will offer the fastest twenty-four hour, seven-day turnaround for customers in the import and export sector. I know that this is good news for everybody in the area, particularly those who need to meet demanding international delivery deadlines.
I would like to congratulate you on your achievements over the past 8 years and wish you every success with your new logistics centre here in Cork. I look forward to seeing what the next 8 years will bring!
Thank you.
ENDS