A US financial services firm is to create 100 jobs in Mullingar at its new Euro 21 million financial software R&D centre in the town.
GMAC Commercial a subsidiary of General Motors provides support services for the global commercial real estate industry. The company already has an existing mortgage servicing facility in Mullingar employing 120 people.
Welcoming today’s news the Tánaiste Ms Harney said this second facility by GMAC Commercial, represents a major boost to the company’s already notable contribution to the local economy.
GMAC Commercial Holding employs almost 2,600 people worldwide, servicing 54,115 loans, it specialises in multifamily loans - apartments with more than five units, and a variety of commercial properties, including office, retail and healthcare.
Mr Barry Moore, president of GMAC Commercial Mortgage Bank (Ireland), stated that, "This new R&D facility is not only an expression of confidence in Ireland but is a declaration of intent. We will drive the Industry.
"In the competitive world of global commercial real estate, the company which uses technology, and has the best technology, will thrive. Our technology will be the most advanced for every service we provide."
GMAC Commercial also has a lending operation in Ireland – GMAC Commercial Mortgage Bank (Ireland) located at the International Financial Services Centre, Dublin.