Semiconductor company Analog Devices is to create 600 new jobs in Limerick.
The US-based firm is to invest €630 million into a new 45,000 sq-ft research & development and manufacturing facility.
The investment is expected to result in 600 jobs and is intended to help accelerate advances in applications including digital biology, electric vehicles and robotics.
It will see a tripling of wafer production capacity in Limerick, which is its European regional headquarters.
The company, also known as ADI, currently employs 1,500 people in Ireland and 3,100 across Europe as a whole.
Ireland is also home to its main European Research and Development Centre, which has generated more than 1,000 patents since its inception.
Vincent Roche, CEO and Chair of Analog Devices. Picture: SuppliedVincent Roche, CEO and Chair of ADI, said Ireland is a critical innovation centre.
"This next-generation semiconductor manufacturing facility and expanded R&D team will further extend ADI Limerick's global influence," he said.
"Through organic R&D and close collaboration with our customers and ecosystem partners, we are striving to solve some of the world’s greatest challenges and enable a more efficient, safer and sustainable future".
Taoiseach Leo Varadkar praised the "really significant announcement" for the region.
"This massive €630 million investment is great news for local employment with lots of jobs being created during the construction phase, and 600 high-end graduate jobs," he said.
"It means a significant expansion in the size and scale of ADI's research, innovation, and development, leading to new, highly innovative products.
"This investment will also mean lots of spin-off jobs and contracts for local SMEs and Irish-owned businesses," he added.
