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==Economy== {{main|Economy of Limerick}} [[File:RiverPoint.JPG|thumb|upright|[[Riverpoint]], Limerick's tallest building.]] Limerick is in the region dubbed "[[Mid-West Region, Ireland|the Midwest]]". Also known as the "Shannon Region", this is primarily an economic and social concept. The region encompasses [[County Limerick]], County Clare, North [[County Tipperary]], Northwest [[County Kerry]] and south [[County Offaly]], with its focal point centred on Limerick and its environs within an {{convert|8|km|mi|0|adj=on}} radius. The city's economic development has been driven in part by the [[University of Limerick]], [[Limerick Institute of Technology]], [[Shannon Airport]] in County Clare and [[Shannon Development]] (an economic development agency), whose precursor was SFADCO (Shannon Free Airport Development Company), an economic agency that provided tax incentives to companies locating in the area surrounding Shannon Airport. Limerick Chamber of Commerce, a representative body for businesses in the region, celebrated its bicentennial/bicentenary in 2015. As of 2015, Limerick had the highest disposable income per person in Ireland outside [[Dublin]].<ref>{{Cite web|title=Limerick's Recent Economic Growth {{!}} Limerick.ie|url=https://www.limerick.ie/business/growing-limerick/facts-and-figures/limericks-recent-economic-growth|access-date=10 August 2020|website=www.limerick.ie|archive-date=5 August 2020|archive-url=https://web.archive.org/web/20200805161602/https://www.limerick.ie/business/growing-limerick/facts-and-figures/limericks-recent-economic-growth|url-status=live}}</ref> Historically Limerick was an agricultural commodity-driven economy, due to its position as the first major port along the River Shannon. By the middle of the 18th century, Limerick Port grew to become one of Ireland's principal commercial ports, exporting agricultural produce from the most fertile tracts in Ireland known as the [[Golden Vale]] as well as produce from the surrounding counties.<ref name="libraryireland.com"/> The city was one of the main meat processing areas in Ireland, and industries included confectionery and flour production. The city was known for its bacon industry, including the production of [[Limerick ham]] – however this went into decline in the mid-20th century. The fishing industry in Limerick, based on Clancy's Strand opposite [[King John's Castle (Limerick)|King John's Castle]] and at Coonagh nearby, once employed hundreds of men.<ref>Lysaght, W. (1968) "''The Abbey Fisherman''" The Treaty Press Ltd, Limerick.</ref> The boat most commonly used was the [[Gandelow]] which was also used as a small [[Lighter (barge)]] to ferry goods to and from larger ships in the port.<ref>McInerney, Jim (2005) "''The Gandelow: a Shannon Estuary Fishing Boat''" A.K. Ilen Company Ltd, {{ISBN|0-9547915-1-7}}</ref> In the 1920s the construction of a dam at [[Ardnacrusha]] severely impacted salmon breeding and that, and the introduction of quotas, had by the 1950s caused salmon fishing to diminish.<ref>Mac Cárthaigh, Críostóir, Editor (2008) "''Traditional Boats of Ireland''" (http://www.tradboats.ie/ {{Webarchive|url=https://web.archive.org/web/20141218083718/http://tradboats.ie/ |date=18 December 2014 }} Traditional Boats of Ireland consortium) The Collins Press, Cork, {{ISBN|9781905172399}}</ref> By 2006, most fishermen had relinquished their drift net licences and the industry can now be said to be dormant.<ref>''Clare Traditional Boat and Currach Project 2008'', http://www.clarelibrary.ie/eolas/coclare/heritage/pdfs/clare_traditional_boat_and_currach_project_2008.pdf {{Webarchive|url=https://web.archive.org/web/20150923204739/http://www.clarelibrary.ie/eolas/coclare/heritage/pdfs/clare_traditional_boat_and_currach_project_2008.pdf |date=23 September 2015 }}</ref> As with other cities in Ireland, several multinational companies are based in Limerick, and the city is a growing recipient of foreign direct investment.<ref>{{cite web |url=http://www.the-businessreport.com/article/livable-limerick-fdi-magnet/ |title=Livable Limerick |publisher=The Business Report |date=January 2017 |access-date=14 July 2017 |archive-date=16 July 2017 |archive-url=https://web.archive.org/web/20170716214656/http://www.the-businessreport.com/article/livable-limerick-fdi-magnet/ |url-status=live }}</ref> [[Dell Inc.|Dell]] had its main European Manufacturing Facility at the Raheen Business Park however in January 2009 Dell announced that it would close its Limerick computer manufacturing plant and move the production lines to Poland.<ref>{{cite news | url=http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article5472924.ece | location=London | work=The Times | first=David | last=Sharrock | title=Dell delivers blow to Ireland with plant closure | date=8 January 2009 | access-date=31 October 2010 | archive-date=24 September 2021 | archive-url=https://web.archive.org/web/20210924172258/https://www.thetimes.co.uk/ | url-status=dead }}</ref> The facility was the largest Dell manufacturing plant outside the United States and produced 30,000–60,000 units per day for export to the [[Europe, the Middle East and Africa|EMEA]]. Dell remains one of the largest employers in the mid-west with over 1,000 people employed in service and support.<ref>{{cite news |url=http://www.limerickleader.ie/news/50-new-hightech-jobs-for.6190866.jp |title=50 new high-tech jobs for Dell's Raheen plant |publisher=[[Limerick Leader]] |date=30 March 2010 |access-date=27 May 2013 |url-status=dead |archive-url=https://web.archive.org/web/20100402102819/http://www.limerickleader.ie/news/50-new-hightech-jobs-for.6190866.jp |archive-date=2 April 2010 }}</ref> [[Analog Devices]] has its European manufacturing base in Raheen, 3 km south-west of the city centre. The site employs more than 1,000 people. [[Johnson & Johnson]] subsidiary [[Vistakon]] (the world's largest manufacturer of [[contact lenses]]) has a large facility in [[Castletroy]] in the [[Plassey, County Limerick|National Technology Park]] and also employs close to 1,000 people. It is Vistakon's only production facility outside the United States and one of the largest contact-lens manufacturing plants in the world. Cook Medical, the world's largest privately owned Medical Devices company, employs over 800 people in Limerick at the [[Plassey, County Limerick|National Technology Park]]. The [[Post-2008 Irish economic downturn]] had a profound effect on Limerick. The announcement in 2009 that Dell was to move its manufacturing facility from Limerick to Poland devastated the local economy. 1,900 jobs were lost at Dell and it is believed that for every job that was lost at Dell at least another 4 to 5 were at risk. The closure of the Dell manufacturing facility amounted to 2% of Ireland's national GDP.<ref>{{cite news | url=http://www.rte.ie/news/2009/0108/dell.html | publisher=RTÉ News | title=1,900 jobs lost at Dell in Limerick | date=8 January 2009 | access-date=28 July 2012 | archive-date=16 January 2013 | archive-url=https://web.archive.org/web/20130116235908/http://www.rte.ie/news/2009/0108/Dell.html | url-status=live }}</ref> The downturn in the construction industry also cost many jobs as did the stalled Limerick regeneration programme which promised investment in Limerick's deprived city areas. As of 2012 unemployment had become a major problem across the city with the unemployment rate in the city at 28.6% which was almost twice the national average.<ref name="limerickleader.ie"/> ===Retail=== The [[Crescent Shopping Centre]] is the largest shopping centre in Ireland, outside of Dublin, and the largest in the province of Munster. It is located in [[Dooradoyle]] about 3 km south of the city centre, and has over 90 shopping outlets along with restaurants and a 12-screen Omniplex Cinema. The city centre also has a large retail district which includes a mix of more traditional type of shops as well as some modern [[high street]] stores. [[Cruises Street, Limerick|Cruises Street]] is one of the main shopping streets. [[O'Connell Street, Limerick|O'Connell Street]], [[William Street, Limerick|William Street]], [[Bedford Row (Limerick)|Bedford Row]] and [[Thomas Street, Limerick|Thomas Street]]) are also retail streets within the city. The city centre saw some works on remodeling in the early 21st century, with pedestrianisation works on Bedford Row, Thomas Street and parts of Catherine Street, as well as widening footpaths on William Street.<ref>{{cite web | url = https://www.irishexaminer.com/breakingnews/ireland/part-of-limericks-oconnell-st-to-be-pedestrianised-291474.html | work = Irish Examiner | title = Part of Limerick's O'Connell St to be pedestrianised | date = 1 January 2007 | access-date = 25 October 2018 | quote = the recent pedestrianisation in the city centre of Bedford Row and part of Thomas Street, which was completed last month [Dec 2016]. The remainder of Thomas Street, along with Little Catherine Street, is due to be completed by mid-June [2007] | archive-date = 25 October 2018 | archive-url = https://web.archive.org/web/20181025150117/https://www.irishexaminer.com/breakingnews/ireland/part-of-limericks-oconnell-st-to-be-pedestrianised-291474.html | url-status = live }}</ref><ref>{{cite web | url = http://www.southernassembly.ie/press-releases/press-release/erdf-co-funded-upgrade-works-in-limerick-city | publisher = southernassembly.ie | title = Press Release – European Regional Development Fund Co-funded upgrade works in Limerick City | year = 2013 | access-date = 25 October 2018 | quote = On 26th September 2013, the Mayor of Limerick Cllr Kathleen Leddin unveiled a plaque to mark the completion of the upgrade works to Sarsfield Street, William Street, and Upper William Street, Limerick. The recently completed Enhancement Scheme [..] included [..] footpath widening and re-surfacing | archive-date = 25 October 2018 | archive-url = https://web.archive.org/web/20181025150253/http://www.southernassembly.ie/press-releases/press-release/erdf-co-funded-upgrade-works-in-limerick-city | url-status = live }}</ref> These works have sought to address a reduction of footfall in the city centre (in turn influencing the closure of many city centre retail businesses) which occurred from the recession of 2008 onwards.<ref>{{cite report | url = https://www.limerick.ie/sites/default/files/media/documents/2018-07/Executive%20Summary%20-%20Economic%20Profiling%20Report%20for%20Limerick%20City%20and%20County.pdf | publisher = Limerick.ie | title = Economic Data Profiling Report for Limerick – Executive Summary for Limerick City & Co Co – May 2018 | page = 11 | date = May 2018 | access-date = 25 October 2018 | quote = ''One of Limerick's primary weaknesses has been the ‘hollowing out’ of the city's core residential, retail, education and commercial activities in recent decades, resulting in a lack of vibrancy and population in the city centre'' | archive-date = 25 October 2018 | archive-url = https://web.archive.org/web/20181025150120/https://www.limerick.ie/sites/default/files/media/documents/2018-07/Executive%20Summary%20-%20Economic%20Profiling%20Report%20for%20Limerick%20City%20and%20County.pdf | url-status = live }}</ref> ====Retail parks and shopping centres==== [[File:DunnesStore Limerick.JPG|thumb|right|[[Dunnes Stores]] in Limerick City]] During the [[Celtic Tiger]] years a number of shopping centres and retail parks opened in suburban areas of Limerick. In addition to the Crescent Shopping Centre, which expanded in the early 2000s, the Jetland Shopping Centre and Childers Road Retail Park opened in the mid-2000s. As of 2017, unfinished retail centres included the [[Coonagh, Limerick City|Coonagh]] Cross retail development<ref>{{cite news|url=https://www.irishexaminer.com/ireland/lit-to-open-14m-campus-454652.html|title=LIT to open €14m campus|work=[[Irish Examiner]]|first=Niall|last=Murray|date=13 July 2017|access-date=14 June 2020|archive-date=14 June 2020|archive-url=https://web.archive.org/web/20200614002026/https://www.irishexaminer.com/ireland/lit-to-open-14m-campus-454652.html|url-status=live}}</ref> and the Parkway Valley Shopping Centre on the Dublin Road.<ref>{{cite news|url=https://www.limerickleader.ie/news/home/271733/limerick-s-parkway-valley-development-to-be-placed-on-derelict-sites-register.html|title=Limerick's Parkway Valley development to be placed on derelict sites register|work=[[The Limerick Leader]]|first=David|last=Hurley|date=20 September 2017|access-date=14 June 2020|archive-date=14 June 2020|archive-url=https://web.archive.org/web/20200614002024/https://www.limerickleader.ie/news/home/271733/limerick-s-parkway-valley-development-to-be-placed-on-derelict-sites-register.html|url-status=live}}{{subscription required}}</ref><ref>{{cite news|url=https://www.limerickpost.ie/2019/09/18/councillors-call-for-horizon-mall-sitework-to-be-levelled/|title=Councillors call for Horizon Mall site work to be levelled|work=[[The Limerick Post]]|first=Alan|last=Jacques|date=18 September 2019|access-date=14 June 2020|archive-date=1 October 2019|archive-url=https://web.archive.org/web/20191001100856/https://www.limerickpost.ie/2019/09/18/councillors-call-for-horizon-mall-sitework-to-be-levelled/|url-status=live}}</ref> The plans for the Opera Centre, a proposed retail development described as "one of the biggest commercial development sites in the city's history", make up part of the "Limerick 2030" scheme.<ref>{{cite news|url=https://www.rte.ie/news/munster/2019/1126/1095245-bats-limerick-opera-centre/|title=Planning appeal over €180m Limerick Opera Centre|publisher=[[RTÉ News and Current Affairs]]|first=Cathy|last=Halloran|date=26 November 2019|access-date=13 June 2020|archive-date=13 June 2020|archive-url=https://web.archive.org/web/20200613214056/https://www.rte.ie/news/munster/2019/1126/1095245-bats-limerick-opera-centre/|url-status=live}}</ref><ref>{{cite web | url = https://www.rte.ie/news/regional/2020/1130/1181373-limerick-opera-site/ | publisher = RTÉ News | website = rte.ie | title = Work starts on building Limerick's Opera site | date = 30 November 2020 | accessdate = 10 May 2021 | archive-date = 12 May 2021 | archive-url = https://web.archive.org/web/20210512060049/https://www.rte.ie/news/regional/2020/1130/1181373-limerick-opera-site/ | url-status = live }}</ref> ====The Milk Market==== [[The Milk Market]] located at Cornmarket Row in the city centre sells locally produced foods and products and is governed by Limerick Market Trustees.<ref>{{cite web|url=http://www.milkmarketlimerick.ie/about-us/|title=The Limerick Market Trustees|publisher=[[The Milk Market]]|access-date=14 June 2020|archive-date=27 May 2020|archive-url=https://web.archive.org/web/20200527232046/http://www.milkmarketlimerick.ie/about-us/|url-status=live}}</ref> In 2010 work was undertaken to redevelop the existing premises to an all-weather, all year round facility as it operated in an outdoor environment. The work involved constructing a large canopy over the existing market premises and was officially re-opened in June 2010.<ref>{{cite web|url=http://www.milkmarketlimerick.ie/the-history-of-the-milk-market/|title=The History of the Milk Market|publisher=[[The Milk Market]]|access-date=14 June 2020|archive-date=28 May 2020|archive-url=https://web.archive.org/web/20200528033831/http://www.milkmarketlimerick.ie/the-history-of-the-milk-market/|url-status=live}}</ref> The Milk Market Project won the 2011 [[Royal Institute of the Architects of Ireland]] (RIAI) 'Peoples Choice Award'.<ref>{{cite web|title=Milk Market wins RIAI award|url=http://www.dennanyreidy.ie/engineer-limerick-milk-market/#more-705|publisher=Dennany Reidy Associates|access-date=23 July 2012|url-status=dead|archive-url=https://web.archive.org/web/20130619114203/http://www.dennanyreidy.ie/engineer-limerick-milk-market/#more-705|archive-date=19 June 2013}}</ref> ===Energy=== In 2013, a renewable energy strategy was launched for the region, and proposed a 20% reduction in CO<sub>2</sub>-emissions, while ensuring that short-term actions were beneficial to the long-term goal of [[100% renewable energy]]. The strategy was completed by the Danish [[Aalborg University]].<ref>{{cite web |url=http://vbn.aau.dk/da/projects/limerick-clare-energy-plan%284f19f804-e1fb-42a2-af2d-59dbb0a6a975%29.html |title=Limerick Clare Energy Plan |access-date=20 December 2012 |url-status=dead |archive-url=https://web.archive.org/web/20130112051426/http://vbn.aau.dk/da/projects/limerick-clare-energy-plan(4f19f804-e1fb-42a2-af2d-59dbb0a6a975).html |archive-date=12 January 2013 }} [[Aalborg University]]'s catalogue of publications</ref>
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