Bellview Port zone now supports 1,000 full time jobs, study reveals
THE Belview Industrial Zone in South Kilkenny now supports a total of almost 1,000 full-time jobs, a new economic impact study commissioned by the Port of Waterford reveals.
The industrial zone provides 632 full-time jobs directly, a further 348 indirectly, a total of 980, according to the study.
Last year the 265-hectare zone generated turnover of €388 million directly and a further €555 million through its multiplier effect in the wider economy, giving an overall impact of €942.4 million.
The industrial area’s estimated gross valued added (GVA) last year was more than €190 million.
Of 588 personnel reviewed for the study, 317 (54%) live in Waterford, 147 (25%) in Kilkenny and 94 (16%) in Wexford, making the Belview Industrial Zone one of the biggest sources of employment across three counties in the south east. The remainder of employees commute from Tipperary, Laois, Limerick, Kildare and Cork.
The value of goods shipped through the Port annually is estimated at €1.7bn in the 36-page study completed by Raymond Burke Consulting.
The report’s authors found the direct impacts of Brexit should be minimal, as three-quarters of the Port’s business is with mainland Europe. Just 2% of the Port’s freight business is with the U.K. Furthermore the Port’s south east location makes it a good option to facilitate businesses wishing to bypass the UK and provide direct connections with the continent.
Waterford is now established as the country’s third most popular cruise destination – attracting more than 20 cruise calls this year – providing a considerable economic boost to the region’s tourism and hospitality sector.
Commenting on the study, Port of Waterford CEO Frank Ronan said: “The findings highlight the very significant economic impact of the Belview Industrial Zone on the southeast and national economy.
“While this is something we’ve obviously been aware of, it is valuable to have the data collated so we have a holistic view of the zone and how the 20 or so companies based alongside the port here contribute in terms of employment and economic activity.”