Fifty new jobs are on their way to Ballybrit in Co Galway.

Market intelligence company Industrial Info Europe (IIR) has officially opened a new office there.

IIR performs fact-based market research on the industrial processing, heavy manufacturing and energy-related industries worldwide.

The Galway operation is the company's international hub, with responsibility for all markets outside the Americas.

It says a number of new initiatives - including expanding its market coverage for offshore oil and gas, pharmaceutical and biotech, and industrial manufacturing industries - has resulted in its decision to add the new jobs over a five year period.

This is effectively doubling its workforce from when it was first established in Galway in 2010.

The investment is supported by the Department of Jobs through IDA Ireland.

Since IIR has been in Ireland, the company has increased its global coverage by 489% representing over 92,000 current active projects with a total project value of over US$13 trillion.

Commenting on the announcement Ed Lewis, CEO of IIR, said: "For the past six years that we've been in Ireland, our company has expanded rapidly across the world and our Galway operation has been instrumental to our fast growth."

"I'm very excited about our future in Galway and look forward to long-term success as we move forward from here."