€43 million Glassworks academic and research building launched, marking step forward for Waterford
Minister John Cummins, Sarah Hickey Senior Investment Director ISIF, Noel Frisby Snr, Frisby, An Taoiseach Micheál Martin, Veronica Campbell, President SETU, Minister Mary Butler and Mayor of Waterford Seamus Ryan. Photo: Patrick Browne
A €43 million academic and research building, called 'Building One', has been launched on the former Waterford Crystal manufacturing site by Taoiseach Micheál Martin.
Building One is the flagship building of a larger 37-acre enterprise and innovation campus, called Glassworks, which is currently in development beside South East Technological University (SETU).
The site is effectively a combination of academia with industry, taking inspiration from successful models at the University of Nottingham’s Innovation Park and the Cortex innovation district in St Louis, Missouri.
The Glassworks site in its entirety is expected to have capacity for up to 6,000 employees, and will feature a 582-student bed development, as well as facilities for new university courses, such as optometry.
During his address at the launch of Building One on Monday, Taoiseach Micheál Martin described the development as “a very significant site in terms of the industrial history of the country”.
“This has worked all over the world, where industry and university come together. I’m delighted to see the collaboration of industry and university here; that’s always the objective in terms of our Technological Universities," he added.
Minister John Cummins described the building as “state of the art”.
“When we look at the developments happening here and across the city, including the North Quays, it is clear that Waterford is transforming. Today is a day to be proud of our city, proud of those who invest, work, learn and do business here. The future for Waterford is exceptionally bright.”
Minister Mary Butler commended the partnership between public and private investment on the site.
“There will be no barriers or railings on this campus in regards to the university and the private elements, it will all be co-located, working together on this site. It’s fantastic to see the new building, there’s already a tenant (Veonet) declaring and there will be several more."
Whilst speaking to this newspaper, developer Noel Frisby Jr, addressed historic funding shortfalls in the south east.
The region generates approximately 4% of the national GDP, however it only receives approximately 1.8% of Government Capital Funding.
Calls have long been made for increased funding into the university in particular.
Mr. Frisby said, “the standard we’re setting here with the office building is best in class. You’ll find the exact same standards in Dublin, Limerick, Galway and Cork, so in theory it should attract the same companies who want to work here and position themselves next to SETU.
“Our partners ISEF have a double bottom line mandate, so they have to invest commercially, but also invest in the region. So their whole mandate is to support the region, and this project is the antithesis of that.”
