Data storage company EMC is to invest €20m in research and development activities over the next five years at its campus in Ovens, Co Cork.
With the support of IDA Ireland the investment will create up to 50 new engineering jobs at the facility.
The Ovens facility already employs 1,600 people, 90% of whom hold third-level qualifications.
It has been in the town since 1988 to manufacture and distribute the company's products to its global customers outside of the US.
'EMC continues to show major commitment to its Irish operations and this top class investment and expansion is highly significant for the campus and also for Ireland as we transform into an innovation-led economy,' commented the Minister for Foreign Affairs, Micheál Martin.
The IDA says there is no need for concern about the level of job creation by foreign multi-nationals based in Ireland, and that its pipeline of new projects remains strong.
EMC says, in spite of the economic downturn, it has huge confidence in its Irish base.
