The Cork branch of a US tech company has received a $20 million (€16.4 million) investment to expand its operations and create new jobs over the next seven years.
Microchip Technologies, which also has two branches in Ennis and Dublin respectively, will use the investment to create more employment opportunities in their new development facility.
It is expected that over the next three years, 60 of the 200 projected vacancies will be filled.
The new positions will include roles in engineering, integrated circuit design and testing, applications development and field and customer support, as well as hardware and software system design.
Ganesh Moorthy, President and CEO-Elect of Microchip, said the new Microchip development centre in Cork will establish a significant R&D presence in Ireland and emphasises its commitment to Ireland and Europe.
'Cork was chosen for the development centre as it is the second-largest city in Ireland, with a growing pool of talented engineers and the centre will add to Microchip's ability to deliver superior products and be able to provide timely response to our customers.'
He added that the availability of analogue and mixed-signal talent was another key factor in selecting Cork for the investment.
Taoiseach Micheál Martin also commented on the new centre, calling it a 'further testament to the depth of engineering and research talent in the country.'
He elaborated: 'The partnerships established with leading Irish universities will also ensure strong opportunities for graduates in the growing digital economy.'
The project is supported by the Government through IDA Ireland.
Microchip Technologies was founded in 1989 and they currently serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defence, communications and computing markets.
Their main headquarters is in Chandler, Arizona.
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