Cork County Development Plan 2022–2028 – Volume One: Main Policy Material

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   161 8.2.2 Unemployment had fallen from 16% in 2012 to 4.8% by the end of 2019. During 2020, unemployment rose to a peak of about 25 per cent in Quarter two and by the end of 2020 the Country had an unemployment rate of more than 20 percent, which equates to 500,000 people. The Irish economy experienced a robust recovery from COVID-19 in 2021 and is expected to continue to grow in 2022. Improvements in the labour market are ongoing with unemployment continuing to fall and likely to decline to 5.0 per cent by the end of 2022.2 8.3 Policy Context 8.3.1 A broad range of national, regional and local policy initiatives have been considered in the preparation of this chapter including the following: • National Planning Framework (2018) • National Development Plan 2018-2027 • Regional Spatial and Economic Strategy for the Southern Region (2020) • The South West Regional Enterprise Plan 2020 • IDA Ireland ‘Driving Recovery and Sustainable Growth 2021-2024’ • SRA Regional Co-Working Analysis • Food Wise 2025 • Enterprise 2025 Renewed • Future Jobs Ireland 2019 • Realising our Rural Potential – Action Plan for Rural Development (2017) • Cork Metropolitan Area Transport Strategy 2040 (CMATS) • Cork County Digital Strategy 2020-2022 • Climate Action Plan 2021 • People, Place and Policy – Growing Tourism to 2025’ 8.3.2 Key aspects of the main documents of relevance to this Chapter are summarised below. National Planning Framework (NPF) 8.3.3 The NPF seeks to shape the future development of the country in the period to 2040 in the context of an anticipated population increase of over one million people and seeks to facilitate a shift towards Ireland’s regions and cities other than Dublin by adopting a long term framework to achieve ‘regional parity’. 8.3.4 In the Southern Region, the NPF is planning for up to 380,000 additional people and Cork City and County have been allocated up to 60% of this population growth, representing a very significant vote of confidence in the ability of the county as a whole to contribute to the sustainable growth and development of the country and the region. The NPF has also set a target of an additional 225,000 jobs in the Southern Region to 2040, approximately 135,000 of which can be expected within Cork as a whole (city and county) and approximately 62,500 in Cork County. The pattern of urban growth targeted in the NPF is population and employment led, recognising that enterprise development is drawn to urban locations by market forces such as agglomeration, migration and specialisation that depend on factors such as scale, accessibility, innovation supported by higher education institutions and quality of life. 8.3.5 The NPF outlines the need to anticipate and plan for jobs growth by identifying locations at an urban scale where enterprises can access competitively priced development land, utilities and commercial properties to the highest standards so the sector can respond to opportunities and adapt in the face of changing employment trends and activity. 8.3.6 In rural areas, creating the environment to support job creation is seen as a key enabler to rejuvenating rural towns and villages, sustaining vibrant rural communities and managing population decline. The need to enhance the competitiveness and resilience of the rural economy is highlighted though measures such as supporting innovation and diversification, improving digital connectivity, capitalising of local assets (human, natural or cultural) and opportunities for up skilling / training. 2 ESRI Quarterly Economic Commentary Spring 2022. GO TO CONTENTS

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   162 Regional Spatial and Economic Strategy for the Southern Region 8.3.7 The RSES sets out a 12 year strategic development framework for the delivery of the National Planning Framework within the Southern Region, and includes a Metropolitan Area Strategic Plan (MASP) which covers the County Metropolitan Strategic Planning Area and Cork City and, like the NPF, is led by the recognition of the need for transformative change to planning for the future. The RSES supports the NPF in seeking to strengthen the settlement structure of the region, capitalising on the strength of the three cities and metropolitan areas, and of the network of towns, while also revitalising rural areas by repurposing the towns and villages. 8.3.8 The economic strategy of the RSES seeks to enable sustainable, competitive, inclusive and resilient growth, built on a strong and diverse economic base, while acknowledging current vulnerabilities and risks associated with Brexit and other global issues. The strategy is based on five key principles and requires employment development to follow the settlement hierarchy to deliver the greatest geographical alignment between future population and jobs growth. The strategy also addresses the importance of digital and transport connectivity to underpin the Region’s economic drivers. 8.3.9 The five principles on which the economic strategy of the RSES is focused are • smart specialisation • clustering • place making for enterprise development. • Knowledge Diffusion. • Capacity Building. 8.3.10 Smart specialisation is defined by the RSES as a place-based approach that identifies strategic areas for intervention based on the analysis of the strengths and potential of the economy and on an Entrepreneurial Discovery Process with wide stakeholder involvement. The RSES highlights the importance of a bottom-up approach and collaborative platforms such as the Sub Regional Enterprise Plans and Local Enterprise Community Plans. 8.3.11 The Clustering approach aims to put in place a favourable business ecosystem for innovation and entrepreneurship in which new players can emerge and thus support the development of new industrial value chains and emerging industries. Clusters can be global or local. Figure 8.1 – RSES Economic Principles 8.3.12 Placemaking, or the investment in the creation of ‘place’, is considered an important tool in attracting enterprise development and in optimising the economic potential of an area. Creation of ‘place’ includes investment in the broad mix of attributes that will attract investment to an area and deliver efficiencies, economies of scale and wider societal benefits and can include investment in skills, higher education opportunities, innovation capacity, infrastructure, amenities, property solutions and accessibility and connectivity to other areas and markets. 8.3.13 Knowledge diffusion is the spreading of knowledge and underpins economic growth. It can be achieved by supporting community and education providers to address skills shortages and lifelong learning challenges, while the presence of multinational companies, export-oriented indigenous firms and highly skilled local workers can also spread knowledge and skills. GO TO CONTENTS

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   163 8.3.14 Capacity Building is the building of capacity to enable effective implementation, successfully responding to emerging challenges and adapting to new ways of doing things, while also being able to anticipate change and risk. Capacity building is an important part of building economic resilience. Cork Metropolitan Area Strategic Plan 8.3.15 The RSES includes the Cork Metropolitan Area Strategic Plan which recognises that the Cork Metropolitan Area has “existing critical mass and is an emerging international centre of scale, a national primary driver and an engine of economic and population growth.” The MASP stresses the importance of building partnerships and a collaborative approach to realising the combined strengths of the Metropolitan Area and to support its development as a viable alternative to Dublin. Investment in the creation of ‘place’, access to talent and the presence of an innovative and smart economy are key factors to realising the potential of the area. 8.3.16 In order to succeed as a viable alternative to Dublin, the Cork Metropolitan Area will need to absorb a significant scale of urban focused growth while retaining its essential character and protecting the quality of life. Compact settlements, efficient public transport and the provision of essential physical and social infrastructure are needed to deliver projected growth in a sustainable attractive way. 8.3.17 Strategic locations and drivers for economic growth in the Metropolitan area include the City, Higher Education Institutes and international centres of research and innovation including, within the county, MaREI (Research Centre for Energy, Climate and Marine research and innovation), Ringaskiddy, Marino Point, Carrigtwohill, Little Island and Whitegate. Strategic assets supporting international connectivity include the Port of Cork and Cork Airport. The special role of Cork Harbour, reflecting its natural and historic heritage, industry, maritime economy, tourism and communities, is also recognised as a unique driver for the region. The continued development of these strategic locations, assets and drivers for growth within the Metropolitan Area are key to attracting investment, diversifying the economy and building resilience. 8.3.18 The Cork Metropolitan Area Transport Strategy (CMATS) is seen as a game changer for the area and the RSES indicates that the distribution of population and employment development must support the planned investment in transportation infrastructure with a focus on regeneration, consolidation and infrastructure led growth. 8.3.19 The importance of the continued development of digital infrastructure is recognised both for its role in the development of the Metropolitan Area itself, and also for its ability to improve “relational proximity” so more peripheral locations can interact more successfully with larger urban centres and the metropolitan area. This is particularly important considering recent growth in remote working. 8.3.20 It is an objective of the Cork MASP to support the sustainable development of identified and future Strategic Employment Locations and to ensure the delivery of associated infrastructural requirements. It will also seek investment and inter agency co-ordination for the delivery of infrastructure packages to assist the sustainable growth, regeneration and integration of employment land use and sustainable transport planning for existing and future identified locations in the Cork Metropolitan Area. County Cork (outside Cork MASP) 8.3.21 Within the wider county area the RSES has identified Mallow and Clonakilty as Key Towns and has grouped many of the main settlements of the county into clusters including the North Cork Agri-Food Network, the West Cork Marine Network and the Cork Ring Network (see Table 8.4), highlighting opportunities for sharing assets and driving rural economic growth. 8.3.22 The RSES supports rural economic development and rural connectivity and recognises that rural communities are dependent on viable and vibrant towns and villages, and the commercial decline of many towns and villages can create issues for rural communities. Many rural communities remain reliant on traditional employment sectors such as agriculture, fishing and construction and off farm employment is also common to supplement income. However, these sectors also offer opportunities for diversification. The role of rural innovation in building resilience and supporting job creation is also noted. IDA Ireland ‘Driving Recovery and Sustainable Growth 2021-2024’ 8.3.23 IDA launched its new strategy for the period 2021-2024, while recognising that the launch is at a time of unprecedented uncertainty and accelerating change with elevated levels of unemployment and disruption due to the Covid-19 economic shock. The strategy reflects the long-term goals of the National Economic Plan and of key national policies on enterprise, innovation and the environment. The Strategy reflects and acts upon the mission of the IDA as an agency: to win and develop foreign direct investment, providing jobs, economic impact and opportunity for the people of Ireland. 8.3.24 The strategy is to be delivered through a focus on five pillars: Growth, Transformation, Regions, Sustainability and Impact. These five interlinked pillars align with and are guided by the UN Sustainable Development Goals (SDGs). At a national level they reflect the approach and ambition of the Programme for Government, which focuses on well-being GO TO CONTENTS

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   164 and sustainability outcomes in parallel to economic prosperity. Crucially, the pillars also align with the outlook of IDA client companies, many of whom are already at the leading edge of different areas of sustainable growth ranging from skills development to climate action. Multi-National Companies are also placing an increased focus on environmental, social and governance (ESG) factors in their corporate strategies, management structures, and core activities. 8.3.25 The aim of each pillar is set out below and success across each of the five pillars will contribute to a sustainable, resilient and regionally balanced economic recovery: • Under the Growth Pillar IDA will win investment to support job creation and economic activity. • Under the Transformation Pillar, IDA will partner with clients for future growth in Ireland. • Under the Regions Pillar, IDA will win investment to advance regional development. • Under the Sustainability Pillar, IDA will embrace an inclusive and green recovery. • Under the Impact Pillar, IDA will maximise FDI’s positive impact on local businesses and communities. SRA Regional Co-Working Analysis 8.3.26 The Regional Co-Working Analysis was prepared by the three Regional Assemblies of Ireland. It provides a stocktaking exercise on the number of private sector workers capable of operating remotely at regional and county level and found that 387,000 private sector workers are capable of operating remotely. The degree to which regions can capitalise on the potential of remote working will depend on a variety of factors including the quality and strategic location of coworking hubs available. The report identifies co-working hubs throughout the country and suggests actions which could be taken by policy makers to promote remote working, including surveys to seek the views of employers and employees on the factors that need to be addressed. 8.3.27 In relation to Cork County the analysis finds that as of Q2 2020, the Cork County Local Authority Area ranks 4th on the national list of the estimated number of private sector workers capable of operating remotely and 1st on the Southern Region list. In Cork County a total of 29,704 private sector workers are capable of operating remotely. The total number for the Southern Region is 91,300. The national total is 387,000. There are 17 Co-Working Hubs identified in Cork County, 15 of which are Enterprise and Co-Working Hubs and 2 of which are Community Hubs. These Hubs are listed in Section 8.11 Remote Working of this Chapter. 8.4 Cork Economy 8.4.1 Cork is the second largest metropolitan area in the country and accounts for almost one fifth of the population of the Southern Region. The NPF recognises this, stating that “Cork is emerging as an international centre of scale and is well placed to complement Dublin, but requires significantly accelerated and urban focused growth to more fully achieve this role”. 8.4.2 The economy of Cork County is diverse in its make-up with many strengths including in the areas of agriculture, marine, food production, tourism, services, energy and in technology based manufacturing in sectors such as electronics, pharmaceuticals and medical devices. 8.4.3 In 2016 Cork County supported 118,1463 jobs and combined the city and county supported a total of 188,573 jobs, equivalent to 37% of the total jobs in the Southern Region. Both Cork County and City have a level of economic interdependence with many people living in one area and working in the other. Census 2016 also highlighted that over 7, 500 people leave the county each day to work elsewhere, while over 9,000 others living outside the county commute in for work, creating a net inflow of over 2,000 employees and further highlighting the regional employment role of Cork. 8.4.4 Between 2011 and 2016, Cork County outperformed the Region in terms of jobs growth with the total number of jobs (including persons working from home) in Cork County increasing by 9.5%, while the Region saw an overall increase of 7% in the same period. 8.4.5 Analysis of jobs within the new administrative area shows that just over half (56%) of the jobs in the county are located within the 26 main settlements, with the balance being located in the villages and countryside. These jobs support the communities living in the towns, villages and open countryside across the county. The distribution of jobs across the main settlements is illustrated in Figure 8.2, and job density by Electoral Division is illustrated in Figure 8.3. Job density is highest in the Metropolitan Area and around the main settlements and is generally lower in the northwest and west of the county. 3 Census 2016 Figures which relate to the administrative boundaries pre boundary change. GO TO CONTENTS

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   165 Jobs: LAP Town Boundary POWSCAR 2016. Population: Census Town Boundary 2016 GO TO CONTENTS

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   166 8.4.6 The largest employment centres in the County are Little Island, followed by Mallow and Ringaskiddy. Jobs in the county are very widely distributed with only one location, Little Island, having more than 5,000 jobs. Figure 8.3: Distribution of jobs in Cork County 8.4.7 Table 8.1 shows the jobs to resident workers ratio for each town, both of which can be indicators of sustainability. 8.4.8 As only a portion of the population of any town will be in the labour force, a close match between the size of the population and the number of jobs is not expected but the closer the match, the more sustainable a location would be. The NPF suggests that in terms of the jobs to resident workers ratio, a ratio of 1.0 means that there is one job for every resident worker in a settlement and indicates balance, although not a match, as some resident workers will be employed elsewhere and vice-versa. Ratios of more than 1.0 indicate a net in-flow of workers and less than 1.0, a net out-flow. The extent to which this ratio is greater or less than 1.0, is also generally indicative of the extent to which a town has a wider area service and employment role, rather than as a commuter settlement. 8.4.9 A town like Cobh, which has lost most of its traditional industrial jobs and now functions largely as a commuter town for the city has seen a growth in commuter housing development in recent years, has a relatively large population and relatively few jobs. Cobh has a job to resident worker ratio of 0.28 which means it has only 0.28 of a job for each worker living in the town, meaning most people leave the town each day for work. 8.4.10 Smaller towns located away from the commuter influence of the city, often have a better balance of population and jobs. Some towns, like Bantry and Charleville have more jobs within the town than workers living in the town to fill them, so they draw workers in from a wider catchment area, either just outside the town or further afield. Improving housing delivery within the towns themselves could improve these ratios over time. It will be a challenge for more peripheral towns with limited job opportunities to attract additional population. 8.4.11 The policies and objectives of this Plan seek to grow the population of the towns and encourage job creation within the towns to allow more people to live and work in the same place and make it easier to use sustainable modes of transport for travel. GO TO CONTENTS

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   167 Table 8.1 Jobs to Resident Workers 2016 Settlement* Population 2016 Jobs 2016 No. of Resident Workers Jobs to Resident Workers Bantry 2,722 1,748 1,005 1.739 Charleville 3,919 2,249 1,464 1.536 Skibbereen 2,778 1,580 1,058 1.493 Castletownbere 860 508 374 1.4 Newmarket 976 517 384 1.346 Clonakilty 4,592 2,376 1,840 1.291 Dunmanway 1,655 758 622 1.219 Schull 700 302 249 1.213 Ringaskiddy 929 433 358 1.209 Mitchelstown 3,740 1,480 1,412 1.048 Macroom 3,765 1,548 1,569 0.987 Kanturk 2,350 829 937 0.885 Millstreet 1,555 601 682 0.881 Fermoy 6,585 2,168 2,617 0.828 Bandon 6,957 2,334 2,868 0.814 Kinsale 5,281 1,737 2,140 0.812 Mallow 12,459 3,775 4,760 0.793 Midleton 12,496 3,871 5,194 0.745 Youghal 7,963 1,768 2,718 0.650 Buttevant 970 212 332 0.639 Carrigtwohill 5,080 931 2,345 0.397 Cobh 12,800 1,432 5,098 0.281 Carrigaline 15,770 1,849 6,901 0.268 Whitegate^ 2,184 184 913 0.202 Passage West/Glenbrook/Monkstown 5,843 446 2,504 0.178 *Census Towns ^ Whitegate includes Aghada, Farsid and Rostellan Note: Data in this table is based on the Census Town. Some locations like Ringaskiddy have additional jobs located in the area outside the boundary as defined by the Census, but within the boundary defined by the LAP, which are not reflected in this table. 8.4.12 Pre Covid 19 only 14 per cent of the national workforce worked remotely. Education, ICT and the Finance sectors contained the highest percentages of employees working remotely, whilst the sectors of administrative, health, construction, retail, transport and accommodation and food had less than 10% of employees homeworking. The latest Census figures for Cork on people working from home are from 2016 when 11.5% of jobs in Cork County (jobs in towns and rural areas) were occupied by people who work from home, down from 12.3% in 2011. The highest percentage of people working from home in 2016 was in the towns in the County Metropolitan Cork Strategic Planning Area which includes Cobh, Passage West/Glenbrook/Monkstown, Carrigaline, Carrigtwohill and Midleton. 8.4.13 During the Covid 19 Pandemic 30% of persons aged 15 years and over were using remote working as a response to the COVID-19 pandemic in the Southern Region4. 4 COVID-19 Release Information – CSO statistical release, 13th May 2020 - The data in this release was collected as part of the Q2 Labour Force Survey data collection, and refers to data collected from households between April 8th-23rd, and is based on 2,288 responses. GO TO CONTENTS

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   168 Jobs by Sector 8.4.14 Within Cork County, ‘Wholesale, Retail, Trade and Transport’ is the largest employment sector accounting for 26% of persons at work, followed by ‘Manufacturing’ at 21%. Just 8% of persons at work are engaged directly in ‘Agriculture, Forestry and Fishing’. The proportion of people employed in manufacturing in Cork is significantly above the national figure which reflects the dominance of manufacturing in areas like Ringaskiddy where there is a large pharma industry presence. Improved connectivity to Ringaskiddy (M28) will ensure its continuation as one of Cork Metropolitan areas Strategic Employment Locations for life sciences, significant IDA enterprise assets and world leading marine research and innovation centres. Census 2016 POWSCAR – Industrial Group % National Employees* % Cork County Jobs (incl. home workers) Agri, Forestry and Fishing 5% 8% Manufacturing 11% 21% Build and Construction 5% 4% Wholesale, Retail, Trade, Transport 23% 26% Information and Communications 19% 16% Public Administration 5% 3% Education, Human Health & Social Work Activities 20% 17% Other 4% 4% Unstated 8% 1% Total 1,970,728 118,146 * note national employees includes 2,763 employees who work outside Ireland and who have a place of work that is therefore not in Ireland. However, there may also be a number of people resident outside Ireland who have a place of work in Ireland – these are not included in POWSCAR. Table 8.2: Percentage breakdown of jobs by industrial group 8.5 Economic Role of Cork Harbour 8.5.1 Cork Harbour is Europe’s largest natural Harbour and is strategically important to the County and the Region due to the range of social, economic and environmental functions it supports including a population of almost 72,000 and approximately 29,000 jobs. In addition to supporting port activities, industry, marine sector research and development, tourism and marine leisure activities, the harbour is culturally and historically significant for its rich natural environment, built heritage and history. 8.5.2 The Harbour area is a nationally scaled entity and includes five County Metropolitan Towns (Cobh, Carrigtwohill, Midleton, Passage West/Glenbrook/Monkstown and Carrigaline), as well as four no. Strategic Employment Locations (Ringaskiddy, Little Island, Carrigtwohill and Whitegate/Aghada). 8.5.3 The Harbour area consists of two distinct Harbour Clusters: • the East Cork Growth Corridor – containing Cobh, Midleton, Carrigtwohill, Little Island, Whitegate and Aghada, Marino Point; and, • the South Cork and Lower Harbour Growth Triangle – containing Carrigaline, Passage West/Glenbrook/Monkstown, Ringaskiddy (as well as Brinny and Kilumney/Ovens that are located outside of the harbour area) 8.5.4 Collectively, the Harbour area has been the fastest growing area within Cork, with 77% population growth since 1991 (compared to 42% for Cork overall during the same period). 8.5.5 In employment terms the Harbour includes many of the world’s leading pharmaceutical companies and the harbour economy has a proven global reach, providing an international economic gateway to Cork and the Southern Region. GO TO CONTENTS

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   169 Some of the key economic statistics for the Cork Harbour area include: • Population: 71,910 • Resident Workers: 30,897 • Labour Force Participation Rate: 63.7% • Third level education: 37.2% • Commerce / professional services / manufacturing employment: 65% • GDP per capita: €62,638 • Cork Harbour GDP: €4.5bn 8.5.6 Critically, the Cork Harbour area performs above the national average in all the above metrics. 8.5.7 Recognising the important economic entity that is the Cork Harbour Economy (CHE) and the critical role this economic area plays within the Region, Cork County Council has undertaken a multi-Directorate analysis of the area in order to support the overall economic policies and objectives within this Plan, including: • The need to attract and retain high quality jobs that will allow for better standards of living, and sustainable jobs that will be less vulnerable to future loss; • The need to enhance our ability to compete with other locations in offering the full range of quality of life attributes in order to attract and retain employees in Cork; • The need to broaden the base of the economy, use innovation to drive growth and build on our locational distinctiveness with place making strategies that acknowledge the reality of what attracts companies to invest in an area i.e. access to skills, talent, higher education and a combination of factors, such as innovation capacity, infrastructure investments, competitive services and amenities, property solutions, housing, quality of life, access to trade and markets etc.; and, • The need to plan for a more sustainable future in the context of climate change, shifting demographics, technological development and the transition to low carbon, bio and circular economies; 8.5.8 This analysis undertaken of the CHE is broad-based and detailed, including: • Establishment and recognition that CHE is an intra-connected economic entity; • Establishment and recognition that CHE is a globally connected economic entity • Detailed SWOT analysis across the CHE area, identifying challenges and opportunities; • Productivity analysis of the CHE; • Techno-economic analysis and economic viability analysis of the CHE and Demonstrator Development Sites within the CHE; and, • International benchmarking as context and to provide critical learnings. 8.5.9 All of the above was undertaken within the context of emerging national policy as set out in the National Planning Framework (NPF) and Regional Economic and Spatial Strategy (RSES). 8.5.10 Both the National Planning Framework (NPF) and the Regional Spatial and Economic Strategy (RSES) point to the need for transformational change in the pattern of development in the future, for population growth to be jobs led, and for the population and jobs growth to be more closely aligned geographically, to reduce the need to travel and support sustainable growth. 8.5.11 Chapter 2 Core Strategy allocates population, housing and employment growth in line with the provisions of the NPF and RSES, strengthening the settlement network and main centres of employment while also revitalising rural areas by strengthening rural towns and villages and supporting the diverse nature of the urban and rural economies of the county. 8.5.12 Regarding the technical analysis undertaken within the CHE, this includes: • Productivity analysis: An econometric modelling tool utilised to determine the increase in economic activity, and thus GDP per capita as a result of certain interventions and supports being provided. Three scenarios ranging from no changes to maximum improvement of the economic environment are used to explore the economic growth potential. • Economic viability simulation, risk analysis and system optimization: This involves techno-economic analysis comprising dynamic system simulation of real estate developments, related investments and financial transactions, costs, revenues and cash flows, services, FDI prospects, scenario analysis and incremental optimization of the growth strategy. • Value chain analysis: Quantitative analysis has been undertaken of intra-company networks of companies in the Cork Harbour Economy. GO TO CONTENTS

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    170 8.5.13 The findings of the above technical analysis were stress tested through two Demonstrator Development Sites in the Cork Harbour Economy area and found to be robust. 8.5.14 The analysis undertaken found that the Cork Harbour Economy has the potential to at least double its economic output up to 2040, with also an additional c.35,000 population and 21,000 jobs being delivered within its spatial area. The key economic growth findings of the analysis undertaken includes: • Potential to increase CHE GDP from (current) €4.5bn to (potential) €12.4bn; and, • A significant Return on Investment (ROI) is available to the public exchequer and to private investment – estimated that €1.5bn investment in public infrastructure can generate a €769m return to public funds during the delivery phase and an additional annual return of €643m thereafter. 8.5.15 The above ROI – as well as complementary returns to private investment, population, jobs and overall economic growth - can be achieved via interventions focussing on the following: • Public infrastructure provision: CHE area is located where national, regional and local infrastructure needs overlap. As is highlighted in Chapter 19 – Implementation and Delivery, front loading of private investment to provide for onsite infrastructure is a challenge to economic growth, complicated at strategic locations such as the CHE. Alignment of investment in public infrastructure – including prioritisation, timing and allocation of costs – by all public infrastructure delivery agencies is key to ensuring the activation of economic growth potential within the CHE area. • Strengthening of existing clusters and developing new clusters: Supporting the needs of existing industry within the Cork Harbour Economy area and their respective sectors is critical. Life science and technology are well established by reputation and scale of their member companies. New sector trends are emerging that can strengthen overall international competitiveness include: Smart Biotech (IT and BioTech); eHealth (data-based Pharma and MedTech); Advanced Manufacturing e.g. for BioPharma and MedTech (IoT and manufacturing, 3D printing); and, data-intensive business services such as FinTech or blockchain-based services (IT + Financial & Business Services). • Supporting SMEs and indigenous companies: Fostering SMEs and indigenous companies is important to diversify the currently very strong dependency from FOE and FDI related industries. Potential exists for this sector to focus on key enabling technologies, cross-sectorial cooperation and services to establish value creation networks with improved business opportunities at international level. This is important to improve the resilience of the region’s economy. • Supporting County connectivity: Cork County is among leading indigenous SMEs in sectors such as Agri-Food, Financial and Business Services, Energy and Maritime Economy. As well as creating linkages to international markets it is also important to create strong linkages between companies located in the Cork Harbour Economy and the wider County. 8.5.16 In addition to the critical need for public infrastructure provision to support growth, a wide range of additional supports are also linked to the above, including: • Intellectual Property Rights protections • E-government services • Improved transportation infrastructure (land, air, sea) • Broadband improvements • Energy generation and delivery interventions • Access to data / information • Continued linkages between industry and academia • Customs supports • Legal supports • Venture Capital funding and services • Recruitment and retention supports. Note: the above list is indicative rather than exhaustive, and, will evolve as circumstances change. 8.5.17 The conclusion of the analysis undertaken recognises the need to provide for a collaborative forum to socialise the findings of the analysis and to provide a conduit for collective actions going forward, by providing for: • a platform for CHE; • a conduit for on-going inputs from key stakeholders; • exploit opportunities arising from CHE global network to row and diversify CHE economy; GO TO CONTENTS

Source Cork County Council: Cork County Development Plan 2022–2028 – Volume One: Main Policy Material (2022–2028) · Licence the publisher's termsText read from the publisher’s PDF; tables, maps and drawings do not survive as text, and page numbers are the PDF’s (its first page is 1). Check the original before relying on a passage.