An economic report on the future development of Limerick city has found the construction sector should remain vibrant over the next ten years - flying against the national trend in this sector.
The report was written by economist Jim Power and commissioned by developer Ger Clohessy, who wanted to get a realistic economic perspective on how the city will develop in the next decade.
Mr Power found that the construction sector is likely to remain vibrant in the city over the next ten years because of a number of very ambitious plans for the redevelopment of the city centre.
Apart from public projects to provide new pedestrianised and waterfront walkways, there are two retail and commercial centres planned for Arthur's Quay and the Opera Centre, which between them is worth €1bn.
The regeneration project on the north and south of the city will involve the demolition and rebuilding of around 2,000 homes in a project estimated to cost well in excess of €500m.
Mr Power says that this level of construction will surpass that of any other part of the country, and puts Limerick in a strong position to outperform other cities.
However on the down side he found the city is too dependent on the manufacturing and agriculture sectors for jobs, and governance by three local councils in the area has prevented the city from meeting its real potential.
