Former Waterford Crystal site to become university enterprise quarter
A 37-acre Glassworks site will be established as part of the €130 million initiative, featuring world-class offices beside the South East Technological University's (SETU) academic and research facilities.
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It is hoped it will act as an engine for high-quality employment, economic growth, research and education in Waterford and the wider south-east region.
The site will develop to have capacity for up to 6,000 employees, and planning permission has also been granted for a 582-student bed development on adjacent land.
The move comes 16 years after crystal manufacturing ended at the Kilbarry site.
It has been described as taking inspiration from successful international university enterprise quarters such as the University of Nottingham's Innovation Park and the Cortex innovation district in St Louis, Missouri, US.
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SETU president Professor Veronica Campbell said Glassworks' launch is a 'defining moment for the region and Ireland as a whole'.
'Glassworks will play a pivotal role in Ireland's knowledge economy, where students, start-ups and researchers can collaborate, test ideas and create the next generation of ground-breaking products, technologies and businesses,' she said.
The first commercial building is being developed with a €43 million investment by a joint venture between the Ireland Strategic Investment Fund (ISIF) and Frisby, the Waterford-based developers.
Frisby director Noel Frisby Jr said: 'The crystal factory brought Waterford to the world and now Glassworks will bring the world to Waterford.
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'This is a place where research, creativity and business ambition can thrive, and where our regional economy will continue to grow.'
Building One, the initial 80,000 square foot flagship office building, is expected to open by the end of the year with capacity for 800 employees.
Director of ISIF, Nick Ashmore, added: 'Glassworks will create unique opportunities for both local and international businesses and act as a cornerstone for the south east's future development.
'ISIF's commitment to Building One is an example of its double bottom line mandate at work, investing on a commercial basis in a manner designed to support economic activity and employment in the state.
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'This joint venture, as part of ISIF's city-specific investment programme, will support investment in Waterford as well as Cork, Galway, Limerick and Kilkenny, in the form of new places to work, to live and enabling investments to support these regions.'
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