13 Feb 2019 | 08.30 am
GEC Plans To Double Capacity
€3.2m taxpayer funding for enterprise centre expansion
13 Feb 2019 | 08.30 am
The Guinness Enterprise Centre on Taylor’s Lane in Dublin 8 is seeking planning permission to add two additional floors to the building.
Established in 1999, the GEC is a company limited by guarantee where the founding partners are Diageo, Dublin Business Innovation Centre, Dublin City Council, Dublin City Local Enterprise Office, Enterprise Ireland and the Guinness Workers Enterprise Fund.
The Centre is currently home to 85 companies with c. 400 employees on-site. The expanded development would expand capacity to 160 companies and a further 220 co-working companies. Subject to planning permission, the additional space will be available from 2021.
The Centre had income of €1.45m in 2017 and outgoings of €1.35m.
Dublin Lord Mayor Nial Ring said Dublin City Council is guaranteeing the refurbishment and expansion funding. Diageo contributed 30% of the initial cost of the GEC development but is not following on. Funding of over €3.2m for the expansion is coming from taxpayers through the Regional Enterprise Development Fund.
GEC chairman David Varian commented: “The model of open innovation, interconnecting government supports, industry, academia and citizens is at the core of the new GEC and we look forward to the re-imagined GEC playing a catalytic role in the continued re-development of D8 and the promotion of Ireland as a place for entrepreneurial business growth.”
Launching a new Regional Enterprise Plan for Dublin today, business minister Heather Humphreys said the Dublin region has secured funding of over €9.3 million across six projects under the two completed REDF calls:
• Guinness Enterprise Centre – expansion.
• Ghala DAC – development of a new innovation centre and iHub at the Trinity Technology Enterprise Centre near Grand Canal Dock.
• Social & Local Enterprise Alliance DAC – creation of new enterprise space for innovative and artisan startups in Tallaght and Bolbrook.
• BPO Cluster Ireland CLG – to support the development of an indigenous Business Process Outsource cluster to support scaling and employment growth in the sector
• St. Paul’s Area Development Enterprise CLG – construction, fitting out and running of an innovative food kitchen incubator in the north inner city.
• Innovate Dublin Communities CLG – creation of a social innovation hub in the Liberties in Dublin.
Photo: David Varian (left) and Nial Ring. (Pix: Naoise Culhane)