Unions and local politicians say Coca-Cola's decision to close its Drogheda plant, with the loss of 256 jobs, will have a devastating effect on the local economy.
Siptu, which represents nearly 90 per cent of the workers, said the closure will have far reaching consequences for the community, as there is very little alternative employment in the area.
The union's north east branch organiser John King claimed management at the company was planning to transfer its facility to a non-union site in Ballina where workers will be on inferior pay and conditions of employment.
The TEEU union's regional secretary Arthur Hall branded the decision to close the factory as "corporate greed at its worst".
"This is a highly profitable operation and it has not lost a day of production in disputes for well over a decade. The only reason why it is moving its main production to Ballina, that I can see, is that it has a non-unionised workforce there and can ensure less of its profits stay in the local economy." he said.
"To borrow Coca Cola's own slogan, things are certainly not going to be better for Drogheda after this," he added.
Fine Gael Louth TD Fergus O'Dowd described the closure as a black day for the town which would have a devastating impact on the workers, the community and the local economy.
He also criticised the IDA for not preparing for "this doomsday scenario" in spite of his warnings that the jobs could be vulnerable.
Local Labour Party councillor Gerald Nash said: "The fact that these jobs are moving, not to a low cost economy abroad, but to Co Mayo is a clear indication that Drogheda is at a serious competitive disadvantage compared to other towns, when it comes to attracting and retaining manufacturing jobs".
"The Government has done little or nothing to safeguard employment in the town by way of investing in local infrastructure," he added.
Fianna Fáil TD for Meath East Thomas Byrne said: "The company has had a huge economic influence in the area and these job losses are going to have a serious impact on the communities in east Meath and south Louth."
"This is terrible news for the region but what we need to do now is to find replacement industries," he said.