Cork set for new jobs with $20m investment from US company

US-headquartered company Microchip Technology is to invest $20 million (€16.4m) to create a new development centre based in Cork.

The new facility will open during the first quarter of this year. The development will create 60 new jobs over the next three years and about 200 jobs within the next seven years.

The creation of jobs will include engineers for integrated circuit design and testing, hardware and software system design, applications development plus field and customer support.

The company said the centre would build on Microchip’s existing presence in Ireland, which is a mix of operations in Dublin, Cork and Ennis, and boost its pool of engineering talent across key skills.

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Located close to the city centre, the new facility will incorporate an engineering lab to support “state-of-the-art innovation” and extend Microchip’s regional customer support.

Close partnerships with Irish universities will enable the Microchip development centre to offer internships and collaborate on key next-generation initiatives.

IDA Ireland said the partnership between the development centre and universities will "enhance the knowledge base and skill levels of engineers in the semiconductor development space in Ireland".

IDA Ireland chief executive Martin Shanahan said the announcement by Microchip was "very welcome".

“The company’s investment in a new development centre aligns with IDA’s strategy to attract engineering development activity to Ireland and to secure investments for regional locations,” he said. “I wish Microchip every success with this initiative.”