The Western Development Commission has identified a small but significant "brain drain" from the east to the west coast which could provide "new opportunities for indigenous and multinational investors", it says.
Almost 75 per cent of 1,016 people who responded to the Western Development Commission's "Look West" campaign in its initial three weeks hold a third-level qualification, while some 66 per cent of the group are aged between 20 and 35 years.
Most popular professions within the group are in information technology, media and software, along with finance, education and health, and sales and marketing, it says.
The WDC's chief executive Lisa McAllister says this shows that there are "serious opportunities for employers", given a "large pool of highly skilled, enthusiastic workers who want to move to the region to work and live".
"Sometimes, large indigenous and multinational companies think that they must locate in a capital city, but our work is clearly showing that educated, highly skilled people want to have good career opportunities in the western region," Ms McAllister said yesterday, when she marked publication of the WDC's annual report for 2005.
The report, which was presented to Minister for Community, Rural and Gaeltacht Affairs Éamon Ó Cuív in Knock, Co Mayo, notes that its investment fund paid out €4 million and approved another €6.9 million for companies across the seven-county region which it represents.
Under modified state aid approval rules sanctioned by the European Commission's approval, the fund was able to make two €1 million investments in single tranches - to Ireland West Airport at Knock and to Lightstorm Networks, a Galway-based company employing 29 people which is involved in silicon design.
Commenting on the airport investment, Mr Ó Cuív said frequent scheduled air services were vital for the region for both tourism growth and for industry.
The WDC says that the new National Development Plan (2007-2013) presents "real opportunities for the region to catch up on previous infrastructural deficits including roads, rail, broadband, and renewable energy".
It also says the Government needs to adopt a "highway mentality" in relation to major roads linking key towns and cities. It believes that the region could benefit significantly if Sligo becomes part of the route for the proposed western rail corridor.
The WDC emphasises the need to extend the natural gas transmission grid in the region and expresses support for "networking through partnership structures" on a "common strategic agenda" in relation to economic development in rural areas. It cites the western development tourism programme as a good example of a "joined-up thinking approach".
The Western Development Commission is the statutory body promoting economic and social development in Donegal, Sligo, Leitrim, Roscommon, Mayo, Galway and Clare.